FxWirePro: USD/DKK at 1-month peak, struggles to sustain gains above 6.4000
Monday, November 2, 2020 10:41 AM UTC
- The Danish Krone slumped a 1-month low as the greenback surged against a basket of currencies.
- The dollar index rallied to a 1-month peak, as investors prepared for U.S. presidential elections on Tuesday.
- However, the downside in the Danish currency appears limited as Manufacturing PMI in Denmark increased to 61.70 points in October from 55.10 points in September.
- USD/DKK is trading 0.05 percent higher at 6.3960, having hit high of 6.4065 earlier, its highest since September 28.
- Immediate resistance is located at 6.4102, close above could take it till 6.4180.
- On the downside, support is seen at 6.3706 and any break below will take it till 6.3624.