Bloomberg News

Forint Strengthens for Third Day in Hungarian Holiday Trading

May 28, 2012

The forint strengthened for a third day against the euro as Greek opinion polls eased concern that the country will exit the euro, boosting demand for riskier assets.

The Hungarian currency appreciated 0.7 percent to 297.57 per euro by 11:14 a.m. in London, adding to a 0.9 percent gain in the previous two sessions. Local markets were closed for a holiday.

Emerging-market stocks gained for a third day and the euro rebounded from the lowest since 2010 against the dollar. Greece’s New Democracy, which supports the austerity plan negotiated with international lenders, placed first in all six opinion polls published on May 26 as campaigning continued for the general election on June 17.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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