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10Y Bond Yield Testing Key Resistance at 4%

  • Selling pressure on LT Hungarian bonds has been high in recent weeks, after NBH 'disappointed' the market last month by not increasing the pace of its tightening cycle.
  • The 10Y bond yield tested its key resistance at 4% this morning, the highest level since June 2015; next level to watch on the topside stands at 4.24%. On the downside, first support to watch stands at 3.82%.
  • EURHUF has been consolidating sharply lower in the past week after testing a local high at 367 last Monday. The pair is currently testing its 360 support; next level to watch on the downside stands at 356.80 (200DMA). On the topside, key resistance to watch above 367 stands at 370.

Source: Bloomberg/MNI

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