Hungarian forint at 3-months high…
…while the zloty and the koruna remain under pressure
Hungarian forint extended its gains after a favourable 2013Q1 GDP result reported last Wednesday. The forint hit the 3-month high and tested 290 EUR/HUF. Its performance contrasts with those of regional peers in Poland and in the Czech Republic, where fresh GDP data disappointed. Both the zloty and the koruna are close to important technical levels at 4.20 EUR/PLN and 26.00 EUR/CZK, respectively. In Poland, recent dovish comments of NBP, signalling possibility of a rate cut as early as at the next meeting, could also have weighed on the currency.
Click here to read the full report: FX Daily
KBC