The dollar did strengthen against the euro from 1.1680 to 1.1650 in the morning, but the movement started to accelerate in the last hour, with prices lower near 1.16, which means the green belly is almost at a one-year high. All this is a good indication of the gloomy sentiments of the international investor, which are explained by several reasons (eg the power outage in China, the negative growth effects of production and supply problems along with the Evergrande issue, the continuing coronavirus epidemic, the global gas energy crisis., coal and oil). – Prices that further increase the current high inflation trajectory, and thus drive large central banks to tighten, which increases bond yields, increases the attractiveness of stock markets, the S&P500 has passed important technical levels, etc.) About the reasons that played an important role in the fall of the forint yesterday Larger, ma less We also wrote in a separate article.
As a result, the forint, which was already weakening in the early afternoon, took a further hit: Euro prices rose to 360.2 not long ago, which means a new low for the forint in two months.
The next important level from a technical analysis point of view (resistance) will be 362.5 if the exchange rate gets there.
Because of the dollar’s strength, prices jumped against it to 310, which means a new forint drop in half a year.
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