Forint recovers slightly after reaching historical low against Swiss franc

Analysis

The forint traded at 242.08 to the Swiss franc late Monday, weakening from 236.75 on Friday, but recovering a bit after slipping past the 244 mark, a new historical low, earlier in the day.

The Swiss franc firmed on fears ratings agencies could downgrade US government debt.

The forint traded at 189.10 to the dollar late Monday, slightly firmer than its rate of 186.39 on Friday.

The forint weakened slightly against the euro to 268.73 from 268.46.

On the secondary market for government securities, benchmark yields were down 3-7bp for terms over a year.

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