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Despite Forecasts, Hungarian Currency Buoyant Again

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Despite Forecasts, Hungarian Currency Buoyant Again
"Coupled with very low trading volume, the Hungarian forint is making a slow advance in the forex market this morning. By 11:00 the EUR/HUF rate descended to 231 and below.


Contrary to a growing number of forecasts for permanent weakening, the trend has come to a halt and turned around. The current direction indicates that Wednesday's 2.5% slump is over, the rate may bounce back to 230."

Source: Portfolio Online Financial Journal


28.07.2008

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