The US ISM service sector purchasing manager index stirred up the markets on Tuesday afternoon, the stock indices fell, the dollar gained strength again, from 1.04 to 1.0350 against the euro. As we wrote:
the market has become questionable as to whether the Fed will even be able to cut interest rates twice this year with such rapid signs of price growth,
as revealed in the data communication.
The forint did not show any major movement against the euro, but it could not strengthen either: It was stuck around 415.5 in this gloomy mood in the interbank market and has been true ever since. The subscriptions are still in the same place this morning.
Due to the re-strengthening of the dollar and the sideways movement of the forint, the dollar/forint quotations climbed back to around 402 as of last night, and this morning the trading is around 401.5.
The cover image is an illustration. Cover image source: Getty Images
Source: www.portfolio.hu
