8 Apr 2015
EUR/DKK around 7.4490 in 12-month view – Danske Bank
FXStreet (Edinburgh) - In the view of analysts at Danske Bank, the cross could head towards the 7.4490 level in a 12-month horizon.
Key Quotes
“In March the FX reserve was DKK737.1bn which was DKK0.1bn higher than in
February and Danmarks Nationalbank (DN) did not intervene in the FX market”.
“Lack of intervention indicates that the bar for DN action is higher than it has been historically as EUR/DKK moved close to 7.4700 at the end of March”.
“We forecast EUR/DKK at 7.4490 in 12M and DN to keep policy rates unchanged and expect DN to cap the top side of EUR/DKK at 7.4720 through intervention”.
Key Quotes
“In March the FX reserve was DKK737.1bn which was DKK0.1bn higher than in
February and Danmarks Nationalbank (DN) did not intervene in the FX market”.
“Lack of intervention indicates that the bar for DN action is higher than it has been historically as EUR/DKK moved close to 7.4700 at the end of March”.
“We forecast EUR/DKK at 7.4490 in 12M and DN to keep policy rates unchanged and expect DN to cap the top side of EUR/DKK at 7.4720 through intervention”.