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HUF: EUR/HUF Dips Through Session Lows Following Rate Decision

HUF
  • Solid dip in EURHUF through its earlier session lows on the back of the rate decision. 
  • While a ‘hold’ was widely expected, some analysts had flagged risk of another 25bp cut. The move puts the cross back below the 50-day EMA at 393.68. Further out, bears target a break of 391.93, the Aug 21 low, which would reinstate a bearish threat. 
  • A reminder that the policy statement will be released at 14:00BST/15:00CET.

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