The forint was stable throughout the week, moving between 393.8 and 395 levels, but there was no big movement. The most important event of the week was the Fed’s interest rate decision, and although the central bank made a significant interest rate cut, this did not have an impact on the foreign exchange market (perhaps because investors priced in a big cut), but the stock market has seen a bigger rise since then.
The dollar is slightly weaker against the euro today, the dollar’s weakness has not exceeded 0.1% so far this morning, the quote is around 1.117. The dollar has weakened somewhat since the Fed decision, but the American currency has not produced a significant movement either.
The forint is strengthening slightly against the dollar, the dollar now costs HUF 352 and HUF 90, which means a strengthening of the forint by less than 0.1%.
The Japanese yen is strengthening slightly after the central bank’s interest rate decision this morning, after some weakening in the previous days. The central bank kept interest rates at the same level. The Japanese yen shook the markets in August, because behind its rapid strengthening was the closing of carry deals, which adversely affected the Western markets. Since then, investors have been paying attention to the development of the Japanese yen.
Today, we do not expect any significant market-moving news, but any of the unplanned events can move the markets, so the discipline cannot slacken.
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Source: www.portfolio.hu
