HUF and CZK to extend the rally in the coming days – ING

The Hungarian Forint and the Czech Koruna has strengthened this week. Economists at ING expect this trend to continue in the coming days.

Ready to rally further

“Our bullish view on the Hungarian Forint and the Czech Koruna is materialising, benefiting all week from higher EUR/USD, reduced risk aversion and record-low gas prices.”

“We expect this trend to continue in the coming days and especially next week when the National Bank of Hungary and the Czech National Bank are both scheduled to hold meetings. Both central banks should confirm stable rates and a hawkish tone and push back against the dovish market pricing coming from the global story. In our view, this should extend the rally in the Forint and the Koruna.”