Central European Daily

The forint was under pressure whole January, but especially in the last days. EURHUF moved from 297 to 307almost without any correction. The four week weakening trend can be separated into two main periods. It is without question that in the first period HUF was affected mostly by the emerging market sell off from the CEE region. HUF moved mainly together with MXN and RUB in the first three weeks, but still was able over perform TRY and ZAR, while underperform BRL, PLN, RON and CZK.