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The post Hungarian Forint: Rally against Euro seen extending – ING appeared on BitcoinEthereumNews.com. ING’s Frantisek Taborsky says Central and Eastern European (CEE) FX is benefiting from positive global sentiment, with EUR/HUF breaking to new lows below 355. Markets expect Hungary’s new Prime Minister Peter Magyar to unlock EU funds and advance Euro adoption. Despite stretched long positioning, Taborsky sees the pair reaching the 350 mid-year forecast earlier, though he warns optimism could fade without concrete fiscal and EU-funds plans. CEE FX buoyed by Hungary optimism “Along with all emerging markets, CEE FX is enjoying the positive sentiment coming from the global story.” “EUR/HUF broke another record low last week, closing below 355 on Friday.” “Despite the already heavy long positioning, it seems that the market has no problem moving forward and our mid-year forecast at 350 will probably be reached earlier than we expected.” “On the other hand, the appointment of the PM itse
Read full articleA potential ECB rate hike could strengthen the euro, impacting global markets and speculative assets, while geopolitical tensions add uncertainty. The post ECB’s Kocher signals potential rate hike if inflation outlook worsens appeared first on Crypto Briefing.
