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EURHUF touched Huf315.11 and seen..........>

EURO-HUF
EURO-HUF: EURHUF touched Huf315.11 and seen approaching support from the
multi-month lows at Huf314.91. A downside break opens the May 11 2018 low at
Huf314.14, ahead of the Huf313.50/60 level which has registered a series of
previous lows.
- Also a worthy reminder of the Deutsche Bank PLNHUF trade idea put out
yesterday. Deutsche recommend investors go long PLNHUF, targeting a move to
Huf75 from Huf73.37, betting that the Forint will retreat after outperforming
this year. Deutsche add, there is scope for the market to price a more dovish
trajectory for the NBH in light of the dovish shift by the ECB. This should
drive HUF weaker against currencies like PLN where dovish policy is already well
priced.
- The Forint has registered ytd gains against the EUR of 1.81% & gains of 2.12%
against the Zloty. 

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