Yesterday, the forint weakened to over 411 az with euros versus, then came back below 410. We already saw this last week, as a result of the American presidential election, the index weakened to 412, and in the second half of last week it came back to 404. Yesterday, the forint “closed” against the euro at around 408, and it starts here again this morning: 408 forints costs 10 fils to one euro.
The weakening of the forint yesterday was caused by the strengthening of the dollar.
The American currency passed 1.06 against the euro yesterday, and this morning it can continue to strengthen, we see a 0.2% strengthening of the dollar. Already 1.054 is quoted, which means a low for October 2023 in EURUSD. With this, the trend-like strengthening of the dollar has been going on since the summer, as the expected interest premium of the dollar against the euro has risen since then.
The forint continued to weaken this morning with dollars in contrast, today the dollar costs 387 forints, which means a 0.3% weakening.
One of the most important events of today will be the announcement of the US producer inflation, in addition to this, you should pay attention to the speech of Fed President Jerome Powell. On Friday, you should pay attention to the US retail sales data, which may bring new movements in the dollar.
The cover image is an illustration. Cover image source: Getty Images
Source: www.portfolio.hu
