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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CEE FX
- HUF has just overtaken CZK as the top performer of the CEE 3, while PLN continues to diverge the strengthening trend in CEE FX as central banks embark on tightening cycles in response to pro-inflationary pressures and robust growth indications from the likes of Hungary
- YTD HUF trades +3.19% vs the EUR, CZK +2.988% & PLN +0.018%.
- Divergences with PLN have become more stark in July/August as Czech & Hungarian central banks have embarked on tightening cycles, while Poland has opted to keep policy setting loose to support the recovery
- This disparity is set to become more stark in the next few months as Czech & Hungarian central banks tighten further while the NBP remains on hold out towards the end of the year.
- Hungary 3x6 FRA-Bubor Spreads have widened to +71bp, and Czech 3x6 FRA-Pribo3m Spreads have also widened to 64.8bp – both accelerating in August.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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