No stopping for the forint even after one-year peak

The forint was trading at around 368.7 against the euro on Wednesday morning. That is a minimal change from Tuesday evening for the Hungarian currency. The forint strengthened to a one-year high on Tuesday, with the euro trading below 368.

In the coming days, the inflation data due on Thursday morning will be important for the forint. This morning, the preliminary industrial production data was released, which showed a particularly weak performance. This could cast a shadow over the start of the second quarter in the Hungarian economy, Portfolio explains.

Among the forint’s regional rivals, the Polish zloty started the day 0.25 percent weaker and the Czech koruna 0.2 percent weaker. In emerging markets, the Turkish lira is in a market crash this morning, down 5.5 percent against the dollar.