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Hungary Publishes Law in Gazette Required For EU Funds Release - BBG

  • Bloomberg reported this morning that EUR10bln of funds earmarked for Hungary is set to be released today following legislative changes in Budapest bolstering court independence. No specific timings were disclosed. The latest headline is likely referring to the specific laws required for such disbursement.
  • EURHUF broke through its intraday lows just prior to the headline, with losses extending since. The cross is down 0.35% on the day at typing though remains some way off key support at 375.62, the Nov 14 low. A break would resume the downtrend and open 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg.

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