Natalia Chi
Welcome to the Chicago Popular News community. The subject of this news is The forint is trying again – Can you hold back below 400?
here are the details.
The forint was around 400.85 against the dolar on Wednesday morning, which was a minimal shift from Tuesday night. During the history of the Hungarian currency, it first weakened above the psychological level of 400 on Monday, and then last night we saw a new historical low for the forint at 403. It is expected that the international sentiment will move the exchange rate of the Hungarian foreign exchange in the next period as well. In other words, there may be plenty of excitement in the market today, and it is certain that the Fed will announce its decision at eight o’clock in the evening, and it is not yet known from the ECB when the extraordinary meeting may end. The forint is now hovering around 382 against the dollar, while the British pound will cost 459.6 forints.
Among the forint’s closest competitors, the Polish zloty started the day with a 0.3 percent weakening, which is underperforming today, as the exchange rate of the Czech koruna moved slightly. In the emerging market, the Turkish lira has strengthened 0.1 percent against the dollar and the Russian ruble is soaring another 1.8 percent.
Investors today can focus primarily on the dolar-dollar exchange rate in addition to the decisions of the two central banks. The dolar has already started to strengthen on the morning news, the quotation around 1.048 is 0.6% higher than on Tuesday night. Meanwhile, the Japanese yen also strengthened 0.6% against the dollar and the British pound improved 0.3%.
Cover image: Getty Images
