Denmark intervenes to maintain euro peg

Danish kroner

Denmark’s central bank intervened in currency markets in December, buying kroner for the first time since March 2017 to support its peg against the euro.

The central bank was prompted to buy 11.6 billion kroner ($1.77 billion) in December, as the krone fell to its lowest sustained level against the euro since the beginning of 2016.

Thomas Thygesen, a macroeconomist at SEB, tells Central Banking the data suggests this is not a standout currency crisis because economic and political fundamentals

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