HUF/EUR: Depreciation To Resume In Medium Term

We believe that the Hungarian forint is set to continue its range trading between HUF275.00/EUR and HUF290.00/EUR through the short term. That said, we do expect the unit to slip towards the weaker edge of its present band as risk aversion ticks up on the back of continuing losses on key global and emerging European equity markets, including the Hungarian BUX index. We watch for a firm breach of the HUF275.00/EUR or HUF290.00/EUR levels before re-evaluating our short-term neutral outlook.

To read the full article, please choose one of the following options: