Danish Krone Stabilised |
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The Danish krone (DKK) has been highly volatile lately. It started the month under pressure and we have rea-son to believe that it was the Danish central bank's in-terventions in the foreign exchange market that pre-vented EUR/DKK from drifting too far from central par-ity. The reason behind the pressure was that Euroland deposit rates had drifted substantially higher than Danish deposit rates, ie, EUR/DKK enjoyed a positive carry. The Danish central bank surprised markets late Tuesday by
Filed under: Fundamental
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