EUR/HUF: A retest of the March peak of 402.50 could be next in line – SocGen

Market news

2 August 2023

EUR/HUF: A retest of the March peak of 402.50 could be next in line – SocGen

EUR/HUF pierced 390 on Tuesday. Economists at Société Générale analyze the pair’s outlook.

The Forint carry trade is unravelling fast amid the MNB’s normalisation drive

The Forint carry trade, a popular theme until recently, is unravelling fast amid the MNB’s normalisation drive.

A retest of the March peak of 402.50 could be next in line after the pair breached the 200-Day Moving Average – situated at 386.44 convincingly earlier this week.

See – EUR/HUF: EU relations and monetary policy to remain fundamental negative factors for the Forint – Commerzbank

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US: Downgrade unlikely to be long-lasting driver – ING

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