USDHUF long, break above 61.8 fib level, EM market weakness playHUF is an emerging currency, with no positive carry value -> risk-off sentiment = sell HUF
The economy is export driven, weaker HUF does not hurt the government in the short run
Monetary policy divergence got stronger
Cons:
- NBH can decide to verbally intervene in the HUF market especially because of EURHUF rate