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HUF Continues To Outperform PLN As CEE3 CPI Prints Loom

HUNGARY
  • USD/HUF opens higher, but continues to outperform PLN on wider real yields. The cross is looking vulnerable to more upside around 297 resistance
  • 299.20-300 the next psychological resistance pivot point.
  • EU veto discussions & CPI prints remain the focus across CEE this week.
  • Hungary is expected to see disinflationary pressures continue, driven by fuel and food price consolidation
  • Likely to printat 2.8%-2.9% YoY, confirming initial CPI surge was mostly transitory.
  • With limited data due this week, both PLN & HUF will remain vulnerable to EUR/USD developments.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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