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EUR/HUF Reacts Little to Rate Cut, Attention Turns to Policy Statement

HUF
  • Very slight uptick in EURHUF on the back of the rate decision, though the move is limited overall given a 50bp move was the overwhelming consensus. The cross had been edging lower ahead of the decision, and last deals at around 393.70, down 0.15% on the session.
  • Attention turns to the policy statement and post-decision briefing at 14:00BST/15:00CET for any potential tweaks to the central bank’s communication.
  • For EURHUF, attention still lies on key resistance and the bull trigger at 399.75, the Mar 12 high, with initial resistance marked at 395.77, the Apr 2 high. On the downside, a break of 388.34, the Apr 5 low, is required to reinstate a bearish theme.
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