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Local Rates More Resilient Than CEE Peer Poland

HUNGARY
  • {hu} Local rates diverging slightly from CEE peer Poland, showing higher resilience to risk-off sentiment - most likely due to negative real yields in Poland.
  • Nevertheless, Hungarian curve continues to bear steepen in 10Y & 20Y yields.
  • USD/HUF remains in its lateral range (305-300) driven primarily by external factors - mirroring EUR/USD price action.
  • USD/HUF opened below its 50dma this morning but remains capped by major support at 300 and an unwillingness for the ECB to let EUR/USD push towards 1.20
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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