EUR/HUF to edge lower near-term, Forint to resume underperformance in 2024 – Commerzbank
|The Forint rallied strongly over the past month. Economists at Commerzbank see the HUF staying strong during 2023 but once again in 2024, they forecast a weaker Forint when the Euro resumes depreciating.
HUF underperformance will likely resume during 2024
“HUF’s rally might extend modestly further in the near-term as inflation begins to moderate – in this window, we see EUR/HUF in the 380 range.”
“We forecast a weaker Forint subsequently in 2024 when inflation proves stubborn globally, and the Euro resumes depreciating.”
Source: Commerzbank Research
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