BUDAPEST: The forint was trading at 307.45 to the euro late Friday on the interbank forex market, up from final quotes at 308.73 on Thursday. At 308.82 to the euro early Friday, the forint moved between 307.34 and 309.41, after an eight-day high at 306.86 late Thursday, and a two-week low at 312.66 Monday morning.
The forint is up 1.40% versus the euro from final quotes last Friday, after losing 0.83% over the week before. It is up 3.01% from the end of last year, after it lost 6.12% last year, and 1.95% in 2013. The Hungarian currency left behind the low-yielding euro while both extended gains against the dollar which fell after an initial lack of decisive new direction numbers on the US economy prompted traders to take profit on its rise since the Fedʼs Wednesday statement.
Later, the dollarʼs dive accelerated as the US governmentʼs second-quarter index on employment cost rose less than forecast and the smallest in 33 years, paring bets the Fed may raise interest rates already in September.
