3 Dec 2015
EUR/Scandies under pressure – Danske Bank
FXStreet (Edinburgh) - Senior Analyst Christin Tuxen at Danske Bank has assessed the potential scenario in the EUR/Scandies space.
Key Quotes
“EUR/Scandies including DKK should come under pressure as well and we expect notably the Riksbank to partially mirror the ECB later this month whereas Norges Bank will likely stay put”.
“Denmark is set to use intervention to defend the EUR/DKK peg”.
“However, last week’s IMM data revealed that speculative positioning in the single currency rose to the most bearish level since early June, thus arguably making it increasingly difficult for the euro to fall further”.
Key Quotes
“EUR/Scandies including DKK should come under pressure as well and we expect notably the Riksbank to partially mirror the ECB later this month whereas Norges Bank will likely stay put”.
“Denmark is set to use intervention to defend the EUR/DKK peg”.
“However, last week’s IMM data revealed that speculative positioning in the single currency rose to the most bearish level since early June, thus arguably making it increasingly difficult for the euro to fall further”.