FxWirePro: USD/DKK slumps to over 2-year low, dip till 6.2365 likely
The Danish Krone rallied to a over 2-year peak as the greenback slumped across the board. The dollar index declined as investors fretted that a rebound in the U.S. economy would be derailed by the struggle to stem the co…
The Danish Krone rallied to a over 2-year peak as the greenback slumped across the board.
The dollar index declined as investors fretted that a rebound in the U.S. economy would be derailed by the struggle to stem the coronavirus epidemic.
Investors continued to disgest Denmark's upbeat economic data released yesterday, showing the manufacturing confidence indicator increased to -7 in July from -16 in the previous month, its strongest reading since March, while the unemployment rate eased to 5.5 percent in June from 5.6 percent in the previous month.
USD/DKK is trading 0.1 down at 6.2790, having hit low of 6.2509 earlier, its lowest since May 2018.
Immediate resistance is located at 6.3000, close above could take it till 6.3328 (5-DMA).
On the downside, support is seen at 6.2365 and any break below will take it till 6.2120.
