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UniCredit Recommends Unwinding Bet of Forint Drop Against Euro

Investors should unwind bets on a forint drop against the euro, UniCredit SpA (UCG) said in an e-mail today.

UniCredit remains underweight on all Hungarian assets, Vienna-based strategist Gyula Toth said. The bank is keeping its recommendation of betting on a strengthening Polish zloty against the forint, he said.

“We believe the most important game changer for Hungary would be a potential renewed cooperation with the IMF,” Toth said.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net

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