FxWirePro: USD/DKK hovers towards 1-1/2 week peak, likely to test 6.6600
Monday, June 15, 2020 10:57 AM UTC
- The Danish Krone declined, extending losses for the third straight session, as the greenback rallied across the board.
- However, the Danish Krone's downside appears limited as Denmark announced a string of initiatives to stimulate the economy including cash handouts and a fund to support struggling companies.
- Denmark will also release 60 billion kroner of vacation pay that’s been held in reserve in an effort to create new jobs and boost consumer spending.
- USD/DKK is trading 0.1 percent up at 6.6286 having hit high of 6.6492 on Friday, its highest since June 4.
- Immediate resistance is located at 6.6599, close above could take it till 6.6833.
- On the downside, support is seen at 6.5900 (5-DMA) and any break below will take it till 6.5735.