Forint firms on interbank market

History

The forint was trading at 311.92 to the euro late Thursday on the interbank forex market, up from 313.18 late Wednesday. At 313.48 to the euro early Thursday, the forint moved between 311.74, a two-week high, and 313.70.

The Hungarian currency gained some further traction after the Fed apparently did not narrow the expected time span until its first rate hike next year in its statement Wednesday evening, while, on the other hand, more and more investors are betting the European Central Bank (ECB) will widen its planned quantitative easing next month, compared to earlier expectations.

A well-received auction of Hungarian sovereigns also helped, while yields fell for the four-year tenor and increased for 11-year.

The forint traded at 241.55 to the dollar, up from 243.43 late Wednesday. On Thursday, it moved between 241.17 and 244.27, a one-week low.

It was quoted at 258.41 to the Swiss franc, up from 258.87 late Wednesday. Its range on Thursday was 258.02 to 259.30.

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