Danmarks Nationalbank (DN) sold DKK33.9bn of FX in intervention to support DKK in April. The move highlights that the downward pressure on EUR/DKK has reversed and that DN is now reacting to cap EUR/DKK upside. Government deposits declined as projected in April, Danske Bank sticks to the view that bond sales will be resumed in Q4 this year.
The material has been provided by InstaForex Company – www.instaforex.com