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EURHUF Reverses Earlier Losses Amid Nagy Rate Comments

HUF
  • EURHUF has reversed earlier losses following comments from Marton Nagy, the minister for economic development. The minister said that the central bank should avoid keeping interest rates too high as inflation slows as that would hurt recovery prospects, and that excessive real rates may become an issue after the central bank aligns its two key rates this month.
  • The EURHUF cross stands ~1.3% stronger on the week overall, but shy of 391.64, the Aug 21 high, a sustained break of which would open 394.67, the Aug 3 high and a key resistance. USDHUF trades 0.30% higher on the day, but below yesterday’s highs.

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