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10Y Yield Trading At Highest Level Since November 2018

HUNGARY
  • Deputy Governor Mihaly Patai speaks about Hungarian central bank's green mortgage program (BBG).
  • Last week, NBH Deputy Governor Virag mentioned in a conference in Warsaw that the monetary tightening campaign was 'far from the end' and that the central bank will continue to hike by 15bps in the coming months.
  • With the NBH expected to raise by 15bps at each of the last three meetings in 2021, it would raise the policy rate to 2.1% by the end of the year.
  • USDHUF ticks higher this morning after finding a local low at 305.40 yesterday; next support to watch on the downside stands at 299.90 (50DMA). On the topside, first resistance stands at 310, followed by 312.
  • Hungary 10Y yield has been retracing sharply higher in the past week and is currently trading slightly below 3.50%, its highest level since November 2018. On the downside, first support stands at 3.20%, followed by 3%.
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