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CEE FX: ING See a Bearish Outlook for the CEE Region Today and Monday

CEE FX
  • For today and Monday, ING see a rather bearish outlook for the CEE region given the market's caution on Fed cuts and switching into risk-off mode. 
  • Still, CEE is outperforming the emerging market space, and given the rather dovish market expectations in the region and higher EUR/USD, CEE currencies should be supported and maintain at least current levels, with more gains later, they note. 
  • ING say the main focus should be on EUR/HUF, which usually sets the tone for the NBH meeting. Although they do not expect a rate cut this time despite the low EUR/HUF levels, the main question is still whether the next meeting in September is live.
EM BulletBulletGlobalEmerging Market NewsRegion
EM BulletBulletGlobalEmerging Market NewsRegion

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