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HUF Top Performer in EM Following Softer US Inflation Data

HUF
  • Fresh cycle highs in e-mini S&Ps following the softer-than-expected US CPI data are supporting the risk-on move in global markets, prompting the HUF to outperform all of its EM peers.
  • Specifically, USDHUF has decline 1.13% piercing the 340.00 handle as the pair narrows the gap to 335.62 – the Jun’22 low and the lowest mark in 14 months.
  • A more moderate move lower for EURHUF after the release. The cross trades around unchanged since the data owing to the spike higher in EURUSD above 1.1050.

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