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EUR/HUF: Drawing the Line

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Over the previous 52 weeks the Hungarian National Bank reduced their base rate five times to the present 1.35% from the 52 week high of 2.10%. The effect on the Euro exchange rate was dramatic. The first reduction, 15 basis points to 1.95% was announced at March policy meeting, about the time the ECB initiated its €60 per month liquidity purchases. The Forint’s momentum pushed it to its 52 week high against the Euro at 296.565 per, by early April. A reversal began immediately at that point. The

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