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EUR/HUF Dips Back Below 390.00 on Release of Policy Statement

HUF
  • EURHUF has dipped back below the 390.00 handle as the NBH describe today’s 100bp cut as a 'temporary' increase in easing pace while Deputy Governor Virag says the central bank still sees the key rate in the 6-7% range by the end of June.
  • The statement also reiterates that future decisions will be made in a data dependent manner and will warrant caution.
  • EURHUF, nevertheless, stands above today's lows with initial support some way off at 386.16, the Feb 12 low.
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