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EUR/HUF Momentum Slows Slightly as Risk-Off Boosts Haven Currencies

HUNGARY
  • EUR/HUF trades +0.13% higher this morning, broadly following softer global risk sentiment and a higher weaker EUR.
  • HUF continued to appreciate in yesterday's session, but has pared some of the move with this morning's price action – brushing off impressive preliminary GDP figures.
  • The cross remains in bear mode, with an eye towards the psychological 350 level. However, today's focus will be on US data, and tomorrow's FOMC minutes for near-term directionality.
  • Intraday Sup1: 351.48, sup2: 350.51, Res1: 352.68, Res2: 353.72
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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