Narrowing Of Danish Polls Set Up Market For Volatile Euro

Public opinion polls indicating that Danes are less inclined to reject the euro than they were last week suggest that trade in the single currency could become volatile later this week... Denmark's adoption of the euro is not seen having a major direct impact on the euro because of Denmark's relatively small size among European Union countries. However, Denmark has come to be seen by foreign exchange markets as a watershed for euro sentiment... "While a lot of decline of the euro has to do with financial outflows that are not political, there is an underlying lack of confidence in a single currency without a single policy backing it," said Alan Cafruny, professor of international affairs at Hamilton College in Clinton, NY. "A no vote in Denmark would reinforce these perceptions. If yes goes through it would be very positive."

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