HUF expected to pick up pace in the longer run – Danske Bank
|Chief Analyst at Danske Bank Jakob Christensen expects the Hungarian Forint (HUF) to appreciate further in the next months.
Key Quotes
“Despite the spike in late January, EUR/HUF is now back at 308 in line with our forecast made in January”.
“We think that political election risks in France could weigh on HUF, but we also think that economic momentum in the Hungarian economy will continue to improve, mitigating the weakness”.
“Longer term, the positive external balance and undervalued exchange rate are supporting factors for the HUF. Hence, we think EUR/HUF will remain around present levels near term. We target 308 in 1M and 3M, strengthening to 306 in 6M followed by 304 in12M”.
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