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USD/HUF Falls After Sharp Q2 GDP Decline Amid COVID-19 Pandemic

The Hungarian forint is looking to rebound against a plethora of currencies on Tuesday after the Central European country recorded disappointing economic data that showed how hard it was hit by the coronavirus pandemic. The drop in economic activity has forced foreign exchange traders to reevaluate their positions in the forint as analysts anticipate further contraction.

Hungarian Forint Strengthens As Central Bank Leaves Interest Rates Unchanged

The Hungarian forint is strengthening on Tuesday as the central bank left interest rates unchanged and confirmed that it would not be ultra-aggressive in its quantitative easing efforts as its global counterparts. The institution’s decision left investors with the impression that Hungary’s economy could withstand the global fallout from the coronavirus pandemic.

Hungarian Forint Higher vs. Euro After Central Bank Announcement

The Hungarian forint gained on the euro and was stable against the US dollar today as Hungary’s central bank signaled about an end to its monetary easing cycle.

Hungarian Forint Down After Surprise Interest Rate Cut

The Hungarian forint traded lower today after yesterday’s surprise from the nation’s central bank.

Hungarian Forint Gains vs. Euro, Falls vs. Dollar

The Hungarian forint rallied against the euro on speculations that Standard & Poor’s is going to upgrade the outlook for the nation’s credit rating (though it has basically lost its gains as of now). The currency also attempted to rally versus the US dollar but failed.

Hungarian Central Bank Slashes Main Rate, Forint Retains Appeal

The Hungarian forint advanced today even after the nation’s central bank reduced its main interest rate. The bank was not particularly pessimistic despite the interest rate cut, helping the currency to retain its appeal.

Hungarian Forint Drops as Central Bank Performs Interest Rate Cut

The Hungarian forint weakened today after the nation’s central bank performed an interest rate cut yesterday. The general market sentiment was not helping the currency either.

EUR/HUF Rises After Rate Cut Before Retreating, USD/HUF Stays Lower

The Hungarian forint fell against the euro today as the central bank cut interest rates in order to facilitate economic growth, but has recovered as of now. The currency managed to advance versus the US dollar, but has trouble keeping gains.

Hungarian Forint Rallies, Ending Sell Recommendation from Goldman

The 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.

Forint Suffers from Bad German Data

The Hungarian forint fell today as negative macroeconomic data from Germany scared investors and made them reluctant to buy risky assets.

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