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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CEE FX
- Since September 2020, PLN/HUF has maintained a broad, but choppy, downtrend after peaking at 81.37 – falling 5.24% in just under a year.
- The recent initiation of the NBH's tightening cycle has helped bolster demand for HUF assets, while the NBP's ultra-loose policy settings as seen demand drop off as inflation continues to rise unabated
- Price action is currently teetering around the 77.11 mark, just above the lower threshold of the bear channel structure which aligns with key support back as far as October 2019
- While we may see a retracement higher in the near-term as traders take profit around the lower bound of the channel, the cross may continue to push lower towards 76.00 with the NBH expected to hike another 15bp on 24 Aug – further entrenching the policy divergence trade while the NBP remains on hold out towards November.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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