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EURHUF Dips Below 387.00 Following Smaller-Than-Expected Base Rate Cut

HUNGARY
  • Immediate dip in EURHUF on the back of the smaller-than-expected cut. Almost all of the analysts surveyed by Bloomberg had been expecting a larger, 100bp move.
  • The cross is currently trading just below 387.00, though initial firm support to watch lies some way off at 382.08, the 50-day EMA.
  • As a reminder, the policy statement will be released at 14:00GMT/15:00CET, which is also when Deputy Governor Virag will deliver a briefing.
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  • Immediate dip in EURHUF on the back of the smaller-than-expected cut. Almost all of the analysts surveyed by Bloomberg had been expecting a larger, 100bp move.
  • The cross is currently trading just below 387.00, though initial firm support to watch lies some way off at 382.08, the 50-day EMA.
  • As a reminder, the policy statement will be released at 14:00GMT/15:00CET, which is also when Deputy Governor Virag will deliver a briefing.