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EUR/HUF could test 300.00 in 12-month – Danske Bank

FXStreet (Edinburgh) - Analyst at Danske Bank Thomas Harr believes the Hungarian forint is poised for further appreciation within a year’s time.

Key Quotes

“While the low interest rate in Hungary is likely to keep the HUF attractive as a funding currency within the EM carry trade space, we continue to believe that Hungary’s fairly strong external position is likely to be supportive for the HUF in the medium term”.

“We expect EUR/HUF to trade around 310 in the coming one to three months but still look for modest medium-term appreciation against EUR, targeting EUR/HUF at 300 in 12M”.

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