Coronavirus measures taken by Viktor Orban could intensify the disagreements between Hungary and the EU and, therefore, weaken the HUF, according to analysts at Danske Bank. EUR/HUF trades at 358.785.
Key quotes
“Coronavirus emergency measures have been taken, which effectively support Orban’s domestic political power as well. While this is hardly a big mover in EUR/HUF, it does have the potential to amplify the already ongoing disagreements between Hungary and the EU.”
“These somewhat right-wing initiatives did lend support to EUR/HUF yesterday and more HUF weakness could come at a later point in time as a result.”
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