Forex Market Records Muted Response To Danish ‘No’ Vote

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COPENHAGEN--Last Thursday’s ‘No’ vote in Denmark’s referendum on the euro has produced a surprisingly muted response from the FX markets.

Many traders had expected such a vote to lead to further euro sales. However, the euro steadied last Friday, hovering at close in London around the $0.88 mark--the same level it had traded at the start of last week.

Mitul Kotecha, global head of currency research at Credit Agricole Indosuez in London says the impact of the "No" vote has so far been limited