Denmark negotiated special "opt-outs" of the Maastricht Treaty that allowed the country to preserve the krone while most other members of the European Union adopted the euro in 1999. A referendum on the currency issue held in 2000 rejected the proposed adoption of the euro. The Liberal-Conservative government of Anders Fogh Rasmussen planned another referendum on the issue in 2004, but these plans were dropped when polls showed decreasing support for the euro.
The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Before the introduction of the euro, the krone was linked to the German mark, the intention being to keep the krone stable.
On the heels of her commentary, the Euro plummeted across the board, falling approximately 45-pips in under 10-minutes against the U.S. Dollar. Similar reactions were seen in the EUR/CHF pair and EUR/JPY pair. Following Fridays surprise announcement by European Union President Herman Van Rompuy, its clear that the Euro-zone sovereign debt crisis is worsening at a pace faster-than-expected, so an emergency meeting is certainly not a strong sign for the currency blocs health.
16:18 19Jul11 DJN-DJ GERMAN FDP'S SCHAEFFLER: GREECE SHOULD HAVE CHANCE TO TEMPORARILY EXIT EU-REPORT 16:19 19Jul11 DJN-DJ GERMAN FDP SCHAEFFLER: TEMPORARY GREECE EXIT ONLY SENSIBLE WAY TO FIX ECON - REPORT
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(1 year ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(1 year ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(1 year ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (1 year ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (1 year ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(1 year ago)
aussie and cad similar currencies but ausie is the winner
this upmove turns out to be just the correction , further euro upmove has been stoped
if it gets inside the tunnel
shorts falling down
The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Before the introduction of the euro, the krone was linked to the German mark, the intention being to keep the krone stable.
thats unusual
for european currencies
16:19 19Jul11 DJN-DJ GERMAN FDP SCHAEFFLER: TEMPORARY GREECE EXIT ONLY SENSIBLE WAY TO FIX ECON - REPORT
Tuesday, July 19, 2011 8:54:28 AM
(GR) German Chancellor Merkel:: Thursday EU Summit will not be one big step to solve all problems
U.S. Housing Starts Permits June 2011 (000)
Starts: 629 vs. 575 exp. vs. 549r prev.
Permits: 624 vs. 597 exp. vs. 609r prev.
Canada: Leading Indicators June 2011
% vs. +0.9% exp. vs. 1.0% prev.
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