EUR/HUF to edge lower near-term, Forint to resume underperformance in 2024 – Commerzbank

The Forint rallied strongly over the past month. Economists at Commerzbank see the HUF staying strong during 2023 but once again in 2024, they forecast a weaker Forint when the Euro resumes depreciating.

HUF underperformance will likely resume during 2024

“HUF’s rally might extend modestly further in the near-term as inflation begins to moderate – in this window, we see EUR/HUF in the 380 range.”

“We forecast a weaker Forint subsequently in 2024 when inflation proves stubborn globally, and the Euro resumes depreciating.”

Source: Commerzbank Research