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EUR/HUF expected lower in 12-month – Danske Bank Pablo Piovano
11:23 23 May /2016 Forex
Jakob Christensen, Head of EM Research at Danske Bank, expects the Hungarian Forint to advance further within a year’s time.
“Due to a combination of looser monetary policy and weakening economic growth, the HUF has weakened slightly more than expected”.
“We could see further weakening of the forint as we approach the UK EU referendum in June”.
“However, in the base case of the UK staying in the EU, we expect a gradual strengthening of the forint over the next year as growth is also expected to strengthen”.
“Hence, we forecast EUR/HUF at 317 on 1M, 312 on 3M-6M and 310 on 12M”.
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