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EURHUF Sharply Lower On Emergency NBH Action

HUNGARY
  • EURHUF extending losses to 2.8% on the back of the NBH announcements this morning. The 20-day EMA support, at 418.46 is now being breached as well as the recently cleared 416.89, Jul 6 high.
  • The action comes after Hungarian Premier Viktor Orban ordered his finance minister and asked the central bank governor “with the utmost respect” to cut inflation by at least half by end-2023, talking in a radio interview.

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