FxWirePro: USD/DKK consolidates above 6.300, investors eye next catalyst
Friday, August 14, 2020 10:59 AM UTC
- The Danish Krone steadied after rising for two straight sessions, as the greenback held firm against a basket of currencies.
- The dollar index nudged higher, halting a 2-day losing streak after data released yesterday showed the number of Americans seeking unemployment benefits declined below one million for the first time since the start of the COVID-19 pandemic.
- However, the upside in the dollar appears limited as politicians remain deadlocked over the next relief package.
- Invetor risk sentiment slightly weakned after data showing the Danish economy contracted by 7.4 percent on quarter in the three months to June, following a 2.0 percent contraction in the previous period.
- USD/DKK is trading 0.05 percent higher at 6.3072, having hit high of 6.3596 on Wednesday, its highest since August 3.
- Immediate resistance is located at 6.3360, close above could take it till 6.3540.
- On the downside, support is seen at 6.2802 and any break below will take it till 6.2690.