Hungarian Forint Weakens, Snaps Five Days of Gains Against Euro
By Krystof Chamonikolas -
2012-06-11T12:57:09Z
The forint weakened, snapping five days of gains against the euro, as Hungarian government bonds fell for a second day.
The currency of the European Union’s most-indebted eastern member depreciated 0.2 percent to 295.84 per euro by 2:43 p.m. in Budapest. The forint gained 3.3 percent last week, the most among major emerging-market peers tracked by Bloomberg.
Bonds fell, lifting the benchmark 10-year yield six basis points, or 0.06 percentage point, to 8.54 percent. The yield tumbled 57 basis points last week.
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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