Despite some modest HUF strenghtening EURHUF looks always bullish as hell. Hungary's central bank MNB announced bigger steps in rate hikes, projecting 8% by the end of the year. Plus, elections coming ahead and none of the results favouring HUF in the short term. Viktor Orban's 4th consecutive win would give HUF a great pressure, assuming the continuation of the forint weakening. A change in the governing political party would lead the country to a really uncharted territory with unknown political actors and measures.
Trade active
⋅
Ok, so OV won again. I expect forint to reach 400 in this year if no hard measures are taken against forint weakening, what is unlikely.
Comment
⋅
Ah, and if for some reason forint gains some momentum just double down on your buys. Safe profit for 4 years at least I guess.
@TradingUG well, I do not see any reason to long forint, so I just keep buying the dips and selling the highs
otakoro
⋅
What do you think his announced support of Putin will cause now?
otakoro
⋅
@otakoro sorry for confusion, him calling Zelensky an opponent
weirdmoney
⋅
@otakoro well that's a tough question. I think it is part of his campaign to defend russian ties. In this case I hope he will manage to balance between east and west. although, it has never been a good idea for hungary before to play on both sides. either way this is an extra uncertainty for forint and for hungary. I am definetly unable to find a single reason for forint to gain a bullish momentum.