After the US announcement, the forint started to rise.
The forint has strengthened against the euro to a level of 361.6, while the exchange rate against the dollar is around 313.6. The movement of the forint is noteworthy, as the market has previously been characterized by a wait-and-see attitude. The increase on Tuesday was supported by the improving international investor sentiment, which reacted to the news of the possibility of a US-Iranian agreement. This week, the US employment report will also play an important role in shaping the Fed’s interest rate decisions.
The Hungarian currency has strengthened against the euro to 361.6, while the forint has reached around 313.6 against the dollar. The forint’s movement has been particularly noteworthy, as the market has been characterized by waiting and sideways trading in recent times. The Monday rally was supported by a positive international investor mood: markets reacted positively to news about the possibility of a US-Iran agreement, which also boosted risk appetite. Another focus of the week is the US employment report, which could also influence the Fed’s next interest rate move.
