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EURHUF Sharp Uptick Short Lived

  • EURHUF briefly surged in recent trade, coinciding with the most recent uptick in the dollar, though much of the move has already reversed. Earlier in the session, the cross traded to 385.70, closely matching lows printed on two instances last week.
  • Price action so far today places the forint close to the bottom of the EMEA FX pile alongside the Polish zloty (PLNHUF: -0.10%; CZKHUF: +0.15%).
  • As we have previously mentioned, market participants will be looking ahead to the US inflation print given both the thin local slate as well as the increasing sensitivity of CE3 FX to global development

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