Hungarian forint hits yet another three-month low
NBP should not cut rates, but may sound dovish
On Tuesday, regional PMIs for June eventually had no significant impact on trading. The Hungarian forint continued to weaken anyway and hit yet-another three-month low against the euro. Apart from a dovish bias of Hungarian central bank, the European Commission warning could also have contributed to the forint’s weakening. European commission has warned that the country may again face excessive debt procedure early next year, if it does not proceed with the consolidation of public finances.
Read the full report: FX Daily