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HUF Remains Weak Amid Market Uncertainty and Geopolitical Tensions

HUNGARY
  • Last week, the NBH decided to leave its 1W depo rate unchanged despite the ‘positive’ surprise in inflation this week and HUF ‘weakness’.
  • HUF has been weakening following the decision, with EURHUF surging to nearly 387 level earlier this morning (highest level since March 9).
    • Next strong resistance to watch on the topside stands at 390.
  • Orban, reappointed Peter Szijjarto as foreign minister and tapped entrepreneur Kristof Szalay-Bobrovniczky as defense minister, the government said on Friday (BBG). Orban also kept Varga as Finance Minister.

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