Hungarian Forint Strengthens To 2-1/2-year High Against U.S. Dollar

The Hungarian Forint climbed against the U.S. dollar in the European session on Tuesday, as the latter weakened across the board on failure of the U.S. government's healthcare bill to get passed in Senate.

GOP Senators Mike Lee of Utah and Jerry Moran of Kansas announced their opposition to the Bill on Monday, thereby lacking enough votes needed for passage of the Bill in the 100-member Upper House.

In economic news, Hungary's central bank kept its key interest rate unchanged at a record low for a fourteenth successive month as inflation remains well below the bank's 3 percent target.

The Monetary Council of the Magyar Nemzeti Bank left the base rate unchanged at 0.90 percent, in line with economists' expectations.

The Hungarian Forint climbed to 264.48 against the greenback, a level not seen since January 2015. The Hungarian Forint is likely to find resistance around the 250.00 zone.

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