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AUSSIE 3-YEAR TECHS

(U1) Holding Onto Gains

USDCAD TECHS

Lower And Through Support

US TSYS SUMMARY

Risk Appetite Resumes

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In A Range

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  • NBH Deputy Governor Barnabas Virag said in an interview today that adopting the euro is a 'milestone', not a destination, for the Hungarian economy.
  • Virag mentioned that the convergence must be successful and participate positively to the development of the economy.
  • He noted that some early joiners in the periphery (i.e. Italy, Greece) have seen their levels of development fallen sharply in the following two decades (up to 25% loss).
  • Hence, a strategic plan is necessary that deals with the continuous improvement of competitiveness and productivity to ensure than Hungary can continue to the process of convergence (BBG).