Danske Research Team
Danske Bank A/S
Danmarks Nationalbank did not need to sell DKK in FX intervention in April to cap EUR/DKK, which has traded close to 7.4400 for most of the month.
DKK7bn in DGB buybacks by the Debt Management Office did add to liquidity in the DKK money market, though.
We still forecast EUR/DKK at 7.4425 on 1-12M and the key policy rate to stay unchanged at minus 0.65% on 12M.
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