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Local Rates Suffer Under increased AKK Supply; HUF Supported by Risk-On Flows

HUNGARY
  • Local rates continue to drift higher amid increased supply from the AKK.
  • 20Y now pressuring 2.80 resistance.
  • 10Y makes new monthly high, but may look to drift towards early Dec highs at 2.40.
  • EUR/HUF continues to drift lower after breaking 359.15 support, supported by broadly favourable global risk sentiment.
  • Move through the 07 Jan low at 356.72 unlocks the next leg lower towards the 200dma at 355.38. Res1: 357.70, Res2: 358.18.
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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