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HUF Gradually Depreciating Following NBH Decision

HUNGARY
  • The HUF has been gradually depreciating since the NBH decision today at 1pm (London time), as it was largely priced in by the market.
  • NBH mentioned in its press release that it now stands ready for monetary policy tightening and react in a 'proactive' manner to counter the inflationary forces that have been building in recent months.
  • EURHUF is trading back at Friday's high, slightly below the 350 level; next resistance to watch above that level stands at 355.

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