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FxWirePro: USD/DKK hovers towards 3-month low, outlook remains bearish

  • The Danish Krone surged, hovering towards a near 3-month peak hit last week as the greenback weakened across the board.
     
  • The dollar index plunged to a 3-month trough as investors remained cautious ahead of the outcome of the U.S. Federal Reserve’s meeting.
     
  • Investors speculate the Fed could take steps to curb a recent rise in bond yields at its policy meeting. 
     
  • USD/DKK is trading 0.2 percent down at 6.5621 having hit low of 6.5529 earlier, its lowest since June 5.
     
  • Immediate resistance is located at  6.5983 (5-DMA), close above could take it till 6.6236 (7-EMA). 
     
  • On the downside, support is seen at 6.5424, and any break below will take it till 6.5225. 
  • Market Data
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