EM recovery drives Hungary HUF to strongest 2-w position profit-taking looms

"Hungary's forint continued to strengthen to below 249 against the euro on Wednesday, reaching its strongest position in the last fortnight. The stronger forint will provide momentum for rate-cut expectations ahead of the Monetary Council's monthly interest-rate decision (27 Aug), although it is difficult to give a proper projection for the outcome of the meeting, Budapest Economics said on Thursday.

10.08.2007

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