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CEE FX: Forint, Zloty Shrug Off Tariff Concerns, Outperforming Across EMEA

CEE FX
BulletEM BulletEmerging Market News

Gains for the Hungarian forint and Polish zloty have extended in recent trade, with the former at its best level against the euro since October and the latter at a fresh multi-year high. The two currencies are among the top EM performers today, unfazed by the latest tariff developments in the US.

  • EURHUF is around 0.3% lower on the session and has just pierced the November low of 403.86, strengthening a short-term bearish theme and extending the pullback from the January highs to over 3%. The next level of attention will be at the psychological 400.00 mark.
  • Meanwhile, EURPLN is 0.4% lower today and is now below the 4.18 handle for the first time since 2018. Below here, we flag 4.1664, the 3.000 projection of the Nov 6 - 7 - 12 ‘24 price swing, as the next support level of note ahead of the 2018 low of 4.1293.
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Gains for the Hungarian forint and Polish zloty have extended in recent trade, with the former at its best level against the euro since October and the latter at a fresh multi-year high. The two currencies are among the top EM performers today, unfazed by the latest tariff developments in the US.

  • EURHUF is around 0.3% lower on the session and has just pierced the November low of 403.86, strengthening a short-term bearish theme and extending the pullback from the January highs to over 3%. The next level of attention will be at the psychological 400.00 mark.
  • Meanwhile, EURPLN is 0.4% lower today and is now below the 4.18 handle for the first time since 2018. Below here, we flag 4.1664, the 3.000 projection of the Nov 6 - 7 - 12 ‘24 price swing, as the next support level of note ahead of the 2018 low of 4.1293.