Free Trial

EURHUF Pierces Above 392.00 as Topside Momentum Gathers

HUF
  • EURHUF gains have accelerated in recent trade, with the cross trading just above the 392.00 handle at typing.
  • The cross broke through key resistance at 390.49, the Jan 31 high, following the NBH rate decision yesterday, with the break of this level strengthening topside momentum and signalling scope for an extension toward the early August/late September highs of 394.67/394.65.
  • While performance of the local currency was in-line with its regional peers earlier in the session, the forint now sits second to only the South African rand as the weakest currency in the EMEA region today.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.