EUR/DKK upside appears capped near term – Danske Bank

Pablo Piovano FXStreet

Aila Mihr, Analyst at Danske Bank, suggested the Danish Krone could pick up extra pace in the near term.

Key Quotes

“EUR/DKK rose yesterday after news broke that TDC recommends that shareholders accept a DKK40bn offer from four pension funds. Foreign investors currently own 96% of the TDC stock (US owns 51%, EZ about 20% and Norway 6%) and as three of the four buyers are DKK-based the transaction would involve DKK selling”.

“It might be what triggered the rise in EUR/DKK. Against this, we note that tighter DKK liquidity (due to large pension tax payments) will cap EUR/DKK topside short term”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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