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EUR/HUF Extends Post-NBH Losses Below 370.00 Handle

HUNGARY
  • EUR/HUF (-0.60%) is extending the day’s losses amid an uptick in the EUR as comments from Fed Chair Powell cross wires, putting HUF at the top of the EM pile (PLNHUF: -0.50%; CZKHUF: -0.55%).
  • The cross has cleared the day’s earlier lows and the 370.00 handle as post-NBH HUF gains extend despite yesterday's decision being in-line with market consensus.
  • The next key support is at 367.59 – the Jun 12 low – a break of which would open 366.41 – the Mar 30 2022 low – further out.
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