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HUF: EURHUF Continues to Reverse Lower Following Aggressive Rally Late Friday

HUF
CEEMEAEM BulletBulletEmerging Market NewsHungary

EURHUF rallied sharply late into Friday’s session, from around 401 to as high as 407, on the back of the clash between President Trump and Zelenskyy in the Oval Office. While much of the move was quickly pared, the cross ended the session around 0.5% higher (slightly lagging the 0.7% advance for EURPLN) as prospects of a Ukraine peace deal diminished. Expectations of a ceasefire have been a major factor behind the forint's near 4% YTD rally, with last week’s move highlighting the currency’s particular sensitivity to geopolitical developments in Russia/Ukraine.

  • Today, EURHUF has continued to reverse some of the rally, with the cross 0.1% lower at typing but still above Friday’s lows. Zelenskyy said he’s willing to meet Trump if the US president invites him again “to solve real problems,” adding his country is ready to accept a minerals deal that was put on hold. Meanwhile, European leaders met in London over the weekend in attempt to salvage peace hopes, with plans to end the war including an initial one-month truce with Russia.
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EURHUF rallied sharply late into Friday’s session, from around 401 to as high as 407, on the back of the clash between President Trump and Zelenskyy in the Oval Office. While much of the move was quickly pared, the cross ended the session around 0.5% higher (slightly lagging the 0.7% advance for EURPLN) as prospects of a Ukraine peace deal diminished. Expectations of a ceasefire have been a major factor behind the forint's near 4% YTD rally, with last week’s move highlighting the currency’s particular sensitivity to geopolitical developments in Russia/Ukraine.

  • Today, EURHUF has continued to reverse some of the rally, with the cross 0.1% lower at typing but still above Friday’s lows. Zelenskyy said he’s willing to meet Trump if the US president invites him again “to solve real problems,” adding his country is ready to accept a minerals deal that was put on hold. Meanwhile, European leaders met in London over the weekend in attempt to salvage peace hopes, with plans to end the war including an initial one-month truce with Russia.