The Danish krone strengthened over 0.55% against sterling on Friday, due to good market data being released from the area. The growth rate over the last quarter came out at 0.4%. Perhaps even more importantly, the growth rate over the last year came out at 1.7%, 0.8% above target.
This demonstrates that the output of the Danish economy was greater than markets were predicting, which caused an appreciation in its currency. It is well worth looking out for these results next month to see if this rapid increase is sustainable or simply the product of low oil prices.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.