USD/DKK is an exchange rate of the Danish krone against the US national currency.
The currency pair’s history dates back to 1992.
Fundamental analysis of the pair depends on the US dollar position on the market. The latest tendencies testify that the level of confidence in the US dollar has considerably decreased. As a result, the main fundamental factors point at the further decline of the currency pair popularity. Since 2012 there has been a strong tendency toward depreciation of the pair. The price is steadily falling. Trading USD/DKK has calm and smooth character. The pair’s forecast is usually based on technical analysis.
During the last decade the Danish krone has been continuously gaining ground against the US dollar. As an example it can be noted that in 2001 the Danish krone traded at 8.5 against the US dollar and in 2003 it already traded in the range of kr6.5 to kr5.1 for $1.Deals with the Danish krone are quite common on the foreign exchange market; however the total trading volume is still small.
Interest in the Danish currency is connected with its high correlation to the euro. Despite the fact that Denmark is a member of the European Union, it was decided to maintain the national currency and not to introduce the euro. Nevertheless, the Danish krone trend is highly dependent on the general direction of the single European currency. The Danish krone is mainly affected by different events in the eurozone and by prices for agricultural products on the world market. However, an active trend can be seen even when there is a change in the US dollar exchange rate.
The US dollar fluctuations mostly depend on the macroeconomic factors of the US economy, which are released by the United States Department of Commerce. Consequently, according to the US official statistics data the US dollar exchange rate can be forecasted for this or that period.