The Danish krone cooled down somewhat on Monday, following a hectic week of rates shooting up due to election uncertainty. Today we saw a wide range from the krone hitting, from a high of 10.4525 to a low of 10.3440 – a drop of 0.3%.
This is the result of a number of factors. Loekke Rasmussen from the anti-immigration party has won the public’s vote to run the country. Meanwhile, consumer confidence registered positive at 9.8, which represents a good level of economic activity and should encourage consumer spending. On the other hand, the positive data has clashed with the negative retail sales figure, which were a lower-than-expected at -3.8. This has caused krone weakness and explains the fluctuations we have seen in the currency market.
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