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HUF Flips to Trade Lowest in EMEA as EU Take Harsh Line on Rule of Law

HUNGARY

Press conference with EU lawmakers ends, with HUF flipping from trading stronger on the day to now being the worst performer across the EMEA region.

Key points are:

  • Lawmaker panel finds only 2 of Hungary's 17 remedial measures are adequate for Rule of Law concerns, and only 3 of the 17 have actually been implemented.
  • As such, the panel cannot conclude that judiciary, sentencing or political control of courts have been resolved and will be asking commission to keep option of blocking EU fund payments on the table.

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