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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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  • Selling pressure on HUF remains extremely elevated this morning; EURHUF reached an all-time high of 400 earlier.
  • The pair is now up 30 figures since the start of the month, putting NBH policymakers in a difficult position as the sharp forint depreciation has been dramatically supporting inflation expectations.
  • The 75bps hike in the 1w depo rate last week did not have much of an effect on the domestic currency.
  • The HUF is now the weakest performer among the EM World (after RUB), down over 11% against the greenback in the past 10 days.

Source: Bloomberg

MNI London Bureau | +44 203-865-3850 |
MNI London Bureau | +44 203-865-3850 |

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