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EUR/HUF muted post-NBH

FXStreet (Edinburgh) - The Hungarian forint remains pretty much unchanged on Tuesday, taking the EUR/HUF to the 313.15/20 area.

EUR/HUF indifferent after NBH

The HUF almost ignored today’s NBH decision of keeping the benchmark rates unchanged at 2.1%, broadly in line with market expectations. The Hungarian central bank kept rates intact for the first time after several interest rate cuts following the recent comments by NHB officials that the easing cycle has ended. However, analysts’ opinions point to the accommodative monetary conditions to remain in place for some time.

EUR/HUF levels to consider

As of writing the cross is down 0.03% at 313.19 with the next support at 311.56 (30-d MA) and then 311.30 (low Aug.14). On the upside, a surpass of 314.52 (high Aug.18) would aim for 314.81 (high Aug.12).

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