EUR/DKK has dropped below DN's intervention target from earlier this year and is close to the lower bound under present governor Lars Rohde.
European political risk and a strong wealth effect of the recent rise in US stocks have been the main factors weighing on the pair.
We forecast EUR/DKK at 7.4375 on 1-3M (revised down from 7.4425) and 7.4425 on 6-12M.
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