Forint strength opens easing room – Commerzbank

Forint strength opens easing room – Commerzbank

Commerzbank’s Tatha Ghose reports that Hungary’s MNB kept rates at 6.25%, citing Iran-related inflation risks but acknowledging room to cut after a strong Forint rally. With improved inflation dynamics and EUR/HUF strength, he expects a couple of cuts in coming months, sees a 50 bp move as more likely than 25 bp, and forecasts EUR/HUF […]

Gold drops to one-week low below $4,500 as hawkish bets grow

Gold drops to one-week low below ,500 as hawkish bets grow

Gold (XAU/USD) attracts some sellers for the second consecutive day and drops to a one-week low, around the $4,575 region, during the first half of the European session on Wednesday. Persistent geopolitical uncertainties continue to support the safe-haven US Dollar (USD) and undermine demand for the commodity. Moreover, inflationary concerns have raised expectations for more […]

Japanese Yen holds near four-week low vs USD as Iran risks loom

Japanese Yen holds near four-week low vs USD as Iran risks loom

The USD/JPY pair trades with a mild negative bias during the Asian session on Wednesday, though it remains close to a nearly four-week high touched the previous day. Moreover, the fundamental backdrop and the lack of follow-through selling warrant some caution before confirming that spot prices have topped out in the near term. Traders turn […]