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HUNGARY: EURHUF Briefly Trades Above 401.00 Amid Drop in Turkish Assets

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary
  • Contagion from the sell-off in Turkish assets (see more above) has worked against the Hungarian forint this morning. EURHUF rallied around 0.9% at the start of the session, taking the cross above the 401.00 handle. Gains have since moderated alongside the partial recovery in the lira, though EURHUF remains 0.35% firmer at typing.
  • The Minister of Foreign Affairs and Trade, Peter Szijjarto, said yesterday that the "declaration on the pause in attacks on energy infrastructure is especially good news to us, and we hope that the warring sides will both respect it." He said that "the American and Russian presidents made another big step forward towards peace and we hope that Brussels will not be able to thwart efforts aimed at brokering a peace agreement".
  • Prime Minister Viktor Orban leads a weekly government meeting this afternoon. No major data releases are scheduled for today, with March economic sentiment figures due later in the week.
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  • Contagion from the sell-off in Turkish assets (see more above) has worked against the Hungarian forint this morning. EURHUF rallied around 0.9% at the start of the session, taking the cross above the 401.00 handle. Gains have since moderated alongside the partial recovery in the lira, though EURHUF remains 0.35% firmer at typing.
  • The Minister of Foreign Affairs and Trade, Peter Szijjarto, said yesterday that the "declaration on the pause in attacks on energy infrastructure is especially good news to us, and we hope that the warring sides will both respect it." He said that "the American and Russian presidents made another big step forward towards peace and we hope that Brussels will not be able to thwart efforts aimed at brokering a peace agreement".
  • Prime Minister Viktor Orban leads a weekly government meeting this afternoon. No major data releases are scheduled for today, with March economic sentiment figures due later in the week.