FxWirePro: USD/DKK hovers towards 3-month low, outlook remains bearish
Wednesday, June 10, 2020 9:41 AM UTC
- 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.