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March Dividend Effect May Lend Temporary Support To EUR/DKK

March Dividend Effect May Lend Temporary Support To EUR/DKK

In this paper, we look at the significant negative seasonal effect in the DKK current account flow – the so-called March ‘pidend effect’.

The pidend payments from large listed Danish corporations due to be made in March and April this year total DKK39.6bn, which is DKK3.0bn larger than in 2016.

We forecast EUR/DKK at 7.4350 in 1-3M and 7.4400 in 6-12M, while the ‘pidend effect’ may temporarily push it up to around 7.4400.

We recommend Danish pension funds with EUR assets and a hedging mandate hedge on 7Y and beyond and corporations with EUR payables hedge on a 1-3Y.

To read the entire report Please click on the pdf File Below

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