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EURHUF Targets 400.00 as Latest Rally Gathers Momentum

HUF

The latest comments from the NBH have added to the pressure on the forint, as concerns mount over the threat to central bank independence and the rift between central bank and government officials widens. Note that the finance minister said the draft law, which proposes changes to the NBH’s supervisory board, will be discussed at a cabinet meeting today.

  • EURHUF gains have accelerated slightly in recent trade with the cross now through the 399.00 handle, up 1.1% on the day with sights now on 400.00.
  • CZKHUF and USDHUF are up around 1.2%. Both are at their highest levels since October, with the former also through the 200-DMA. PLNHUF has extended the bounce of the mid-January lows to 7.8%, and is trading at a fresh all-time high.

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