USD/DKK – Live and Historical Rates
In this pair, the USD is obviously the major currency, while the DKK is not. The pair isn’t a major nor is it a commodity pair. The chart featured above shows the amount of DKK it requires to purchase a USD.
As far as major currencies go, the USD is definitely at the top of the pops. It is the most popular reserve currency by far and it accounts for the lion’s share of international forex trading going down each day. Given its status, it is not exactly surprising that more USD is held outside the United States than within it. The authority controlling the USD is the Federal Reserve. It accomplishes control through the manipulation of the interest rate.
The strength of the USD stems from many different contributing factors. It is the currency in which the value of commodities such as oil and gold is usually expressed. The US economy is the biggest and most dynamic in the world, dominating a number of important sectors such as finance, energy and manufacturing, not to mention commodities.
The Danish Krone is a success story by every measure. Introduced in 1949, in the wake of the Second World War, replacing the German Reich-mark used during the Nazi occupation of the country, the Krone has resisted the encroachment of the Euro, and it is likely to continue doing so in the predictable future. The country has an exemption from having to adopt the EUR, so it can hang on to this aspect of its sovereignty indefinitely, without breaching its EU treaties. The DKK is also used by the Faroe Islands and Greenland.
Because the DKK is pegged to the EUR, there is a close correlation between the USD/DKK and the EUR/USD. Trading opportunities on this pair are therefore few and far between. There might be some DKK volatility in case the country does decide to go for Eurozone membership.
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Other major currency pairs
BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.