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.
The forint gained versus the euro today amid speculations that S&P may change its outlook for Hungary’s credit grade to positive in its credit review due to release after the market’s close. Yesterday, Hungary’s currency rallied to the highest level in four weeks. The forint’s performance against the dollar during the Friday’s trading session was far weaker even though the greenback remains rather soft.
USD/HUF rose from 271.13 to 272.46 as of 14:32 GMT today. At the same time, EUR/HUF was little changed at 310.02 after falling to 309.48 earlier.
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