The Hungarian forint strengthened against the greenback during Tuesday's early trading, climbing to 230.84 by about 6:40 am ET. The dollar-forint pair closed Monday's deals at 234.87. If the Hungarian currency ticks up further, 221.9 is seen as the next likely target level against the buck.
The economic report, which said that the Hungary's Q4 current account narrowed in the fourth quarter likely, influenced the deals in the pair. A report by the Magyar Nemzeti Bank said Hungary's current account showed a deficit of EUR2.5 billion in the fourth quarter, narrowing from a deficit of EUR2.6 billion in the third quarter.
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