EUR/HUF: Orban measures to weaken the HUF – Danske Bank

FXStreet Team FXStreet

Coronavirus measures taken by Viktor Orban could intensify the disagreements between Hungary and the EU and, therefore, weaken the HUF, according to analysts at Danske Bank. EUR/HUF trades at 358.785.

Key quotes

“Coronavirus emergency measures have been taken, which effectively support Orban’s domestic political power as well. While this is hardly a big mover in EUR/HUF, it does have the potential to amplify the already ongoing disagreements between Hungary and the EU.”

“These somewhat right-wing initiatives did lend support to EUR/HUF yesterday and more HUF weakness could come at a later point in time as a result.”

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FXStreet Team

FXStreet

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