FXStreet (Edinburgh) – The Hungarian forint keeps its daily depreciation intact vs. the euro, with EUR/HUF extending the bounce off sub-309.00 levels.
EUR/HUF around 4.17 post-NBH
The cross remained apathetic following the decision by the Hungarian central bank (NBH) to cut the benchmark rates by 25 bp to 1.50% at today’s meeting, matching consensus estimates.
The cross is retreating for the second consecutive session so far, albeit keeping the trade within the recent 308.00/314.00 range.
EUR/HUF important levels
At the moment the pair is down 0.17% at 310.22 with the immediate support at 308.77 (low Jun.23) ahead of 308.51 (low Jun.5) and finally 307.85 (low Jun.5). On the flip side, a break above 313.65 (high Jun.22) would expose 314.12 (high Jun.19) and finally 314.97 (high Jun.8).
(Market News Provided by FXstreet)