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FxWirePro: Danish Krone retreats from 2-month peak as business confidence deteriorates

  • The Danish Krone retreated from a 2-month peak as the greenback rebounded from multi-week lows.
     
  • The dollar index steadied after Assistant Secretary of State for East Asia, David Stilwell, stated that U.S. President Donald Trump has a long list of possible responses to China's plans to impose a national security law on Hong Kong, including visa and economic sanctions.
     
  • The selling pressure around the Danish currency intensified after data showed Denmark's manufacturing confidence indicator fell to -26 in May from -22 in the previous month, its weakest reading since April 2009.
     
  • USD/DKK is trading 0.1 percent up at 6.7795, having hit low of 6.7565 earlier, its lowest since March 31.
     
  • Immediate resistance is located at  6.8047, close above could take it till 6.8132 (7-EMA). 
     
  • On the downside, support is seen at 6.7487, and any break below will take it till 6.7403. 
  • Market Data
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