Monday, June 18, 2007

Scandinavian Currencies Largely Uncertain Against Dollar, Danish Krone Higher, Monday, June 18, 2007 9:14:37 AM

The Scandinavian currencies were mostly uncertain versus the greenback Monday morning in New York. The Danish krone gained ground versus its American counterpart. Meanwhile, the Swedish krona, Norwegian krone, and Icelandic krona were mostly choppy through the early and mid-morning against the dollar. Traders mulled data from Sweden showing that the central government`s surplus will be larger in 2007 over last year.

The Danish krone advanced against the American dollar Monday morning in New York. The Danish currency traded with uncertainty during the early morning before moving higher after 5 am ET. The krone reached an intraday high of 5.5469 at 7:50 am. The Danish currency slipped from its gains somewhat to trade at a mark of 5.5512 at 8:51 am. This is compared to an intraday low of 5.5601 at 3:50 am.

The Swedish krona was largely uncertain versus the greenback Monday morning in New York. The Swedish currency experienced choppiness throughout the early-to-mid-morning against its American counterpart. At 8:56 am ET, the krona traded at a mark of 7.0380 against the greenback. This is compared to an intraday high of 7.0224 at 7:40 am and an intraday low of 7.0454 at 3:30 am. Traders considered data showing that Sweden`s central government is expected to show a surplus of 138 billion skr, compared to 18.373 billion in 2006.

The Norwegian krone experienced choppy trading against the buck Monday morning in New York. At 9 am ET, the Norwegian currency fetched a mark of 6.0248 against its American counterpart. This is compared to an intraday high of 6.0138 at 8:30 am and an intraday low of 6.0322 at 2:30 am.

The Icelandic krona was largely uncertain against the American dollar Monday morning in New York. At 9:05 am ET, the Icelandic currency fetched a mark of 62.0700 versus its American counterpart. This is compared to an intraday high of 61.9400 at 6:20 am and an intraday low of 62.2600 at 6:50 am. Trading was subdued as Icelandic investors returned from Sunday`s National Day independence holiday.
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