The forint strengthened against the euro on Friday afternoon, with EUR/HUF falling below 365 after earlier touching 366. In the evening the euro was trading around 364.5 forint, and the dollar had fallen 0.3 forint to about 330.2. Over the week the forint gained roughly 3 forint against the euro.
US producer prices rose 0.3 percent month-on-month in October, slightly below the 0.4 percent analysts had expected. Annual producer price inflation accelerated to 6.5 percent from 6.3 percent.
Bessent urges restraint on rate hikes
US Treasury Secretary Scott Bessent urged the Federal Reserve to take a more moderate approach to rate hikes. He said the current energy crisis stems from specific geopolitical causes, while US economic fundamentals remain strong, so excessive monetary tightening is unnecessary.
ÁKK sees euro adoption as anchor
He said euro adoption could force more disciplined economic and fiscal policy.
Without a spring economic policy turn, Tardos said, the Hungarian ten-year yield could approach 8 percent instead of around 5.5 percent.
Related: Forint rebounds sharply against euro and dollar on Friday · Mexican peso gains 0.37% as US producer prices undershoot
