Danish central bank conducts $670 million FX intervention
Danish central bank conducts largest intervention in FX market since June 2016
The National Bank of Denmark sold 4.7 billion krone ($670 million) on the foreign exchange market in February, as it sought to defend its currency peg against the euro.
Its intervention, the largest since the UK's vote to leave the European Union in June last year, was a result of the krone appreciating to 7.432 against the euro.
"We believe that part of the appreciation is the result of increasing financial market jitters up to the French presidential election later this year," a note
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