Hungary forint kicks off day in better shape
After significant depreciation during the day and some recovery at the end of the Tuesday session Hungary’s forint kicked off Wednesday trading in a relatively good shape, having opened around 296.50 to the euro. We can expect large volatility both domestically and globally in the days ahead for a number of reasons: (i) positions can be reshuffled over monetary policy changes expected from the Fed; (ii) the elevated tensions in Turkey could lead to unforeseeable consequences and (iii) some important messages about the European Central Bank’s (ECB) bond purchase programme could be delivered at today’s constitutional court hearing in Germany.