The forint weakened to the euro and the Swiss franc on Thursday morning’s interbank market, trading at 268.93 against the single European currency and 231.91 against the Swiss currency shortly after 10:00 a.m., compared to a Wednesday-afternoon rates of 268.25 and 230.30, respectively.
Dealers attribute the forint’s weakening against the EUR and the CHF to a rise in risk-aversion stemming from the Moody’s announcement that it would place the United States’ credit rating under review for downgrade for the first time since 1995. The forint strengthened against the dollar on Thursday morning, trading at 189.23 to the USD shortly after 10:00 a.m. compared to a Wednesday-afternoon rate of 190.10.
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