It keeps the minimum strengthening of the dawn of the forint, so it has practically no effect on election results. There is no serious movement on the international currency market, which seems to be a quiet period.
Monday morning, the forint went around 312.15 against the euro, which meant a 0.1 percent rise in the forint compared to Friday. At dawn we have seen a small amount of money supply after the election results have been released, and in the morning it was backed by the Hungarian currency. We were at $ 254.34 against the dollar, while the British pound was currently down to $ 358.54.
Among the forint’s competitors, the Polish zloty and the Czech crown started the day with a slight shift, while in the emerging markets the Russian ruble grew 0.1 percent against the dollar, the Turkish lira weakened to a minimum, while the South African rand weakened 0.3 % strengthened for the morning.
There is no serious movement in the euro-dollar exchange rate, as the US currency has strengthened against the euro, so the cross rate is 1,2277. The Japanese yen weakened by 0.1 percent against the dollar, while the British pound was strengthened at a minimum.
This week does not show a lot of relevant macroeconomics, especially inflation statistics. Meanwhile, steps and declarations on US-Chinese trade war can have a profound impact on the market.
Source: portfolio.hu Photo by: Mandiner