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EUR/HUF Steady at the Open After Trading to Near 9-Month Low Thursday

HUNGARY
  • HUF trades steady early Friday, with EURHUF holding the bulk of Thursday's ECB-inspired losses and within range of the 9-month low of 385.53. USD/HUF, however, has shown above the Thursday high as the pair continues to claw back post-Fed decision losses posted Wednesday.
  • Ukrainian Metinvest Holding held talks with Hungary’s government about potentially acquiring bankrupt steelmaker Dunaferr, Bloomberg reports citing Nepszava. Metinvest, along with London-based Liberty Steel are reported to both be interested in Dunaferr, which is under liquidation. The Hungarian government have said they will cover the payroll for the troubled steelmaker for a period of six months amounting to HUF16bln (EUR41m).
  • MTI report that in response to a question concerning recent remarks by US Ambassador David Pressman, foreign minister Szijjarto told a press conference: "Hungary is a sovereign country and nobody can tell us from the outside how we should live", adding that the US ambassador in Hungary has no business interfering in Hungary's domestic affairs.
  • There are no economic releases or speakers scheduled today, with the next major release (retail sales data) set for release next week.

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