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Hungarian Forint Rallies, Ending Sell Recommendation from Goldman

May 22, 2013 at 10:39 by Vladimir Vyun

Hungarian coins and notesThe Hungarian forint advanced today, breaking the level above which Goldman Sachs recommended their customers to close sell positions. The breakout added to the upward momentum of the currency.

Goldman predicted last month that the forint would fall and recommended that clients to close positions if the currency appreciates beyond the 290 per euro level. The forint was rallying as the Hungarian economy expanded 0.7 percent in the first quarter of 2013 from the previous three months, demonstrating the first quarterly growth in more than a year. The forint has rallied 5.3 percent in the second quarter, the best performance among the most-traded currencies.

USD/HUF went down from 224.3300 to 223.7900 as of 10:39 GMT today. EUR/HUF declined from 289.6500 to 289.3350, reaching the low of 288.4150 intraday.

If you have any questions, comments, or opinions regarding the Hungarian Forint, feel free to post them using the commentary form below.

One Response to “Hungarian Forint Rallies, Ending Sell Recommendation from Goldman”

  1. zesh

    what will the gold futr from monday? expected

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