Danish Krone Rises To 2-week High Against US Dollar

The Danish krone climbed to a 2-week high of 4.9541 against the US dollar by 9:15 am ET Monday, compared to 5.0122 hit late New York Friday. The dollar-krone pair is presently trading at 4.9627 with 4.94 seen as the next target level.

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 total trade surplus stood at DKK 3.4 billion in September, down from DKK 3.9 billion surplus in the previous month.

Exports dropped 21.2% year-on-year to DKK 40.2 billion in September, while imports fell 23.1% to DKK 36.8 billion.

Separately, the statistical office said, the current account deficit amounted to DKK 8.4 billion in September, up from DKK 6.6 billion surplus in the previous month. The current account surplus was DKK 8.8 billion a year ago.