COPENHAGEN (Reuters) - The Danish crown, pegged to the euro, fell by as much as 0.25 percent, its largest single-day percentage drop since Reuters data began in 1999, ahead of an ECB meeting that is expected to prompt an interest rate cut in the Scandinavian nation.
By 1020 GMT, the crown regained a bit of ground but was still 0.12 percent lower at 7.444 to the euro, its strongest level since August 2014. The crown’s daily moves are normally tiny, below 0.1 percent.
A widely anticipated European Central Bank stimulus package is expected to put downward pressure on the euro, boosting the crown. The keep it within a tight range, the Danish central bank had been expected to trim rates.
Reporting by Sabina Zawadzki; Editing by Alison Williams