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EUR/HUF Fades as Virag Stresses Need for Policy Normalisation

HUNGARY
  • Robust tone from Virag helping pressure EUR/HUF to fresh daily lows at 376.78 in recent trade - putting the cross within range of first support at the 375.99 100-dma and lower for a third consecutive session.
  • Statement stressed that core inflation will fall at a slightly slower pace than headline inflation, and stressed the necessity of tight monetary conditions ahead.
  • Press conference continues, Virag again mentions the need for 'predictable' normalisation - effectively signalling a sustained pace for rate convergence in the coming months.

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