The swiss franc reached a new all-time high vs. the euro, while the euro is doing rather poorly and has weakened against the US dollar. Meanwhile the Hungarian forint is at its highest in 1.5 month as markets are eager to see the results of Monday afternoon's rate-setting meeting.
With the EUR/CHF rate dropping as low as 1.2720, the Swiss franc is at an all-time high. The lack of investor confidence is supportive of the franc due to its classic status of a safe haven currency.
The euro is doing rather poorly vs. the US dollar as well. EUR/USD quotes were seen sinking to 1.31.
Meanwhile the Hungarian currency is also in top shape. The forint is currently traded at 272.80 vs. the euro, similar to last Friday’s quotes. The forint has not been this firm since early November.
As reported earlier, the Monetary Council of the National Bank of Hungary is making its rate decision public at 2 p.m. Analysts are highly divided over the possible outcome, with many expecting a rate hike.
Due to the record-breaking performance of the Swiss franc, the strength of the forint is not apparent in the CHF/HUF relation. The rate has remained stable at 214.
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