Danish Krone Off 12-day High Against US Dollar

The Denmark currency that climbed to a 12-day high of 5.047 against the US dollar during early European trading on Tuesday saw range-bound thereafter. The pair then moved in a range between 5.063 and 5.048 in the session. The Danish krone was worth 5.082 against the greenback at Monday's close.

The Danish krone is pegged to the euro since January 1, 1999. Prior to the introduction of the euro, the Danish Krone was pegged to the German Mark. The reference rate for the euro-krone pair is at 7.4603.

In economic news, the Statistics Denmark announced that the industrial production dropped 0.9% month-on-month in August, compared to the 0.3% growth in the previous month. At the same time, the industrial sales of own goods and services fell 1.6%.

For the June to August period, industrial production fell 1% compared to the previous three months period. Meanwhile, industrial new orders dropped 1.7% on a monthly basis in August.