Euro convergence supports forint as MNB holds – BBH

Euro convergence supports forint as MNB holds – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad expects the National Bank of Hungary (MNB) to keep its policy rate at 6.25% for a third straight meeting. Haddad highlights the euro-convergence trade as a structural tailwind for the Hungarian Forint (HUF), noting Hungary’s new government aims to meet Euro adoption conditions by 2030, supporting a constructive medium-term […]

Gold retains intraday bullish bias as Iran deal hopes undermine USD

Gold retains intraday bullish bias as Iran deal hopes undermine USD

Gold (XAU/USD) remains well bid above the $4,550 level through the first half of the European session on Monday, albeit it remains below the top boundary of a nearly one-week-old range amid mixed fundamental cues. Developments over the weekend spurred hopes for a potential US-Iran peace deal, undermining the US Dollar’s (USD) reserve currency status […]