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EURHUF Extends Pullback from Wednesday’s High

HUF

EURHUF has extended the pullback from yesterday’s session high, where it fell just 6pips shy of Monday’s high of 385.77. A break of that level would have placed the cross at its highest since Oct 26. Today, the cross is down 0.35% despite few notable moves across global markets. Key short-term support to watch lies some way off at 378.22, the Dec 14 low.

  • Price action places the HUF close to the top of the EMEA pile, with mixed performance noted across the EM basket as we approach the holiday period.
  • Prime Minister Orban is currently delivering his annual press conference, with his comments so far broadly contained to EU matters:
    • Hungary's EU funds are in the EU budget, and we should get it [RTRS]
    • EU would have no basis to suspend Hungary's voting right [RTRS]
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