1:18 PM · 28 June 2022

BREAKING: Forint strengthens as Hungary hikes key rate more than expected

Forint strengthened sharply against the Euro on Tuesday after the National Bank of Hungary unexpectedly lifted interest rate by 185 bp to 7.75%, while markets expected only 50 bp rise to 6.40%.

EURHUF pair weakened after the decision, and if current sentiment prevails downward move may accelerate to 391.15 which coincides with lower limit of the ascending channel and 23.6% Fibonacci retracement of the last upward wave. Source: xStation5

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Forex

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