The forint weakened overnight.
On Wednesday, the Hungarian forint was influenced by the prices of the dollar, the euro, and the Japanese yen, after it had strengthened by 3 forints on Tuesday. The market was paying attention to US labor market data and the Fed’s monetary policy, as well as the effects of Japanese-US currency market interventions. Hungarian energy supply risks also had an impact on the forint. Throughout the day, the markets were optimistic about the resolution of the Iranian-US conflict, but by evening, the forint weakened again.
Following a 3 forint rise on Tuesday, the forint was mainly influenced by the movements of the dollar, the euro, and the Japanese yen on Wednesday. The market was reacting to US labor market data, the Fed’s interest rate policy, and the consequences of Japanese-US currency market interventions. However, energy supply risks in Hungary could also affect the forint’s performance. In the afternoon, the currency markets began to regain confidence that the Iranian-US conflict would soon stabilize, which gave the forint temporary strength during the day, but it weakened again in the evening.
