EUR/HUF points to 304.00 in a year’s view – Danske Bank

The Hungarian Forint is expected to pick up further pace within a 12-month view, suggested Strategist at Danske Bank Vladimir Miklashevsky.

Key Quotes

“EUR/HUF has fallen significantly following the S&P upgrade of and fairly strong economic developments in the Hungarian economy”.

“We think EUR/HUF will trade around current levels for the next 1-3M but then strengthen further as the NBH moves to tighten monetary policy in Q2 17, given our expectation of a pickup in inflation and economic activity”.

“Hence, our EUR/HUF forecasts are 306 in 1M and 3M, 304 in 6M and 304 in 12M”.