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CEE MARKETS-Forint off multi-year high ahead of Fed rate decision 
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CEE MARKETS-Forint off multi-year high ahead of Fed rate decision 
Jun 17, 2026 2:38 AM

BUDAPEST, June 17 (Reuters) - Hungary's forint edged off highs last seen in 2021 and the Czech crown drifted further from a six-month peak on Wednesday, with central European currencies broadly unchanged ahead of a U.S. interest rate decision and with details of the U.S.-Iran peace agreement still thin.

"A wait-and-see attitude may prevail among investors during the day," Hungary's MBH Bank analysts wrote.

While the Federal Reserve is expected to leave rates unchanged, attention will be on new Chair Kevin Warsh and his policy outlook.

The forint was 0.2% weaker by 0831 GMT at 350.05 per euro after touching its strongest in almost 5 years on Tuesday, boosted by an interim agreement to end the war in the Middle East.

"In yesterday's trading, another key support level was breached, this time at 350, although the break is not yet significant. Should this occur, the next support level could be at 345, while resistance is at 355," brokerage Equilor wrote.

CZECH RATES WATCH

The Czech crown was steady ahead of Thursday's central bank meeting, with a majority of analysts expecting the first interest rate increase in 4 years.

Analysts at bank CSOB are among those expecting a hike and they said the crown could strengthen further if the central bank also sounded a hawkish tone.

"The risk for us is the scenario of stable rates under the influence of the current favourable development in the Middle East and the prices of energy raw materials," CSOB said.

"In such a case, the crown would instead go on the defensive, mainly due to the different approach to monetary policy by the European Central Bank."

The ECB raised interest rates for the first ​time in nearly three years last week and left the door open to further rate hikes.

MOL SHARES TRADE LOWER

The Polish zloty was stable at 4.2385 to the euro. Stocks in the region were mixed, with Warsaw's blue chip index down 0.7% while Budapest eased 0.3% and Prague's stocks rose 0.3%.

Shares in Hungary's oil company MOL were down 1.2% as the U.S. Treasury's Office of Foreign Assets Control (OFAC) extended its licence to negotiate the purchase of a majority stake in Serbia's Russian-owned NIS until July 1.

CEE MARKETS SNAPSHOT AT 1031

CET

CURRENCIES Lates Previ Daily Change in

t ous change 2025

trade close

Czech 30 00

Hungar 500 000

forint

Polish 5 0 %

Romani 0 0

Serbia 000 800 %

dinar

Note: daily change calculated from 1800

CET

STOCKS Lates Previ Daily Change in

t ous change 2025

close

Prague 2590. 2583. +0.27 -3.56%

14 0600 %

Budape 13837 13873 -0.26% +24.63%

st 6.75 0.73

Warsaw 96 22

Buchar .17 .49 %

BONDS Yield Yield Spread Daily change

(bid) chang vs in spread

e Bund

Czech 4 5 ps

2-year

Czech 2 24 ps

5-year

Czech 4 15 ps

10-yea

r

Poland 0 0 ps

Poland 0 00 ps

Poland 0 70 ps

r

FORWARD RATE 3x6 6x9 9x12 3M interbank

AGREEMENTS

Czech Poland Note: FRA quotes are for ask

prices

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