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Forint Gains as EU Leaders Reach Deal on Ukraine Aid Package

HUNGARY
  • European Union leaders struck a deal as Hungarian Prime Minister Viktor Orban lifted his veto on a €50 billion ($54 billion) financial aid package for Ukraine, allowing the war-battered country access to vital support after a delay of nearly two months. European Council President Charles Michel announced the deal in an post on X, saying it will provide long term stability to Ukraine. (BBG)
  • Dip in EURHUF back to the daily lows following the headlines. An FT report from earlier in the week suggested that EU leaders may withhold further funding to Hungary if a deal was not to be reached.
  • For EURHUF, a break of the 50-day EMA at 382.33 is needed to strengthen bearish conditions, with the cross now having recorded a 2% dip off of the pre-NBH highs.
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