The forint weakened a lot on Wednesday, it was quoted above 403 with euros opposite and stuck there. This is where the forint starts today, 403 forints cost 10 fils to the euro, which is close to the low point of January 2023.
A dollar yesterday it weakened against the euro, the quote went above 1.08 again, this morning the EURUSD is around 1.082. The forint was not able to benefit from yesterday’s weakening of the dollar, we did not see the usual strengthening of the forint at this time.
Against the dollar, the forint has weakened to a low of March 2023 in the past few days, and this morning it is not far from the local low, 372 forints now costs 50 filars to the dollar.
Today will be important
S&P will publish its credit rating decision this evening, which may have a significant impact on the HUF. There will also be important events next week and beyond. As a result of the American presidential election, the dollar is (also) strengthening, and because of this there is also pressure on the forint, and the Fed is also holding an interest rate meeting, and the expected development of the US interest rate path will also affect the forint. Before that, there will be unemployment data from the USA and inflation data from the Eurozone.
The cover image is an illustration. Cover image source: Portfolio
Source: www.portfolio.hu
