"The Hungarian forint hit a new 6-month record around midday on Thursday, the erosion of global optimism pushing the EUR/HUF rate once again above the 270 mark.3:35 p.m.
Since midday's peak of 267.50 for the Hungarian forint vs. the euro, the currency became weakened once again to 270.50 by 3:30 in the afternoon. Meanwhile the DAX index is already 4% in the red in a chillier global investment climate compared with the early morning optimism. US job market data were only slightly negative, while ECB President Jean-Claude Trichet highlighted the suitable level of the euro benchmark rate at 1%.
12:36 p.m.
At midday CET, the Hungarian forint climbed to a new peak vs. the euro despite a slightly negative stock outlook and a stagnating dollar vs. major currencies.
Surprisingly strong demand at today's government bond auctions was a key supporting factor for the forint. The Polish zloty and the Czech koruna have been practically stable since the local markets opened this morning.
The EUR/HUF rate passed the 270 mark yesterday late afternoon, followed by further gains for the forint. The index reached its daily low at 268.50 later in the evening. This morning saw minor fluctuations first, after which the exchange rate firmed from 269 in the morning to 267.50. Currently, the forint is traded at 268 vs. the euro. USD/HUF and CHF/HUF quotes have been around 190.50 and 175.70, respectively."
Source: Portfolio Online Financial Journal
03.07.2009