FxWirePro: USD/DKK slumps to its lowest since March 12, dip till 6.6302 likely
Wednesday, June 3, 2020 8:59 AM UTC
- The Danish Krone advanced to a near 3-month peak as the greenback plunged across the board.
- The dollar index continues to decline as U.S. demonstrators, angered over the recent death of an African-American man, George Floyd, in police custody, set fire to a mall in Los Angeles overnight and looted stores in New York.
- Investors continued to digest Denmark's better-than-expected Manufacturing PMI released yesterday, which rose to 54 in May from a downwardly revised 37.2 in the previous month.
- USD/DKK is trading 0.4 percent down at 6.6488, having hit low of 6.6387 earlier, its lowest since March 12.
- Immediate resistance is located at 6.6820, close above could take it till 6.7094.
- On the downside, support is seen at 6.6302, and any break below will take it till 6.6245 / 6.6193.