Hungarian forint slides past 366 per euro: what is driving the sell-off

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• 01The Hungarian forint weakened beyond 366 against the euro on Thursday morning and approached 322 against the US dollar, extending a sharp sell-off from the previous session.
• 02Hungarian forint slides past 366 per euro: what is driving the sell-off.
• 03Although the move looks dramatic after months of relative currency stability, the immediate pressure appears to be coming largely from abroad: a stronger dollar, surging US bond yields and renewed concerns over high oil prices are creating an increasingly difficult environment for the Hungarian currency.