The forint extends its gains despite sell-off in EM’s world
The Hungarian forint has continued to strengthen and keeps its bullish sentiment. The EUR/HUF moved below 310 and crossed the 100-days moving average, just like PLN/HUF, which was traded at 74, CZKHUF decreased around 11.26, which was close to the 100-days moving average. It looks like that the relatively fast economic growth and especially the NBH statement that all the foreign currency need of the bank sector related to the foreign currency denominated households loans has to be converted with the NBH made the HUF more attractive (some of the risks were priced out).
Read the full report: FX Daily