In view of Jakob Christensen, Head of EM Research at Danske Bank, the cross could head towards 305 in a year’s time.
Key Quotes
“Given that the central bank seemed more dovish at the March meeting, the HUF has weakened somewhat”.
“However, we continue to believe that Hungary’s fairly strong external and fiscal positions are likely to be supportive for the HUF in the medium term”.
“However, in the near future the HUF may continue to trade weak until NBH adopts a more hawkish tone. Hence, we forecast EUR/HUF at 313 on 1M, 310 on 3M-6M and 305 on 12M”.
(Market News Provided by FXstreet)
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