HRK/EUR - Seasonal Trends To Remain Dominant

As a result of a weak tourism season, as the eurozone headed deeper into recession during H109, the Croatian kuna has appreciated by 'only' 1.7% against the euro year to date, compared to 2.9% for the same period a year earlier. With the tourism season now over, we expect the kuna to begin depreciating in the coming months and hold to our end-year target of HRK7.3800/EUR

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