USD/HUF – Live and Historical Rates

In this pair, the USD is obviously a major currency, while the HUF is not. The pair that the two make is not a major pair nor a commodity one. The attached chart shows the amount of HUF it takes to purchase a USD.

The USD

The USD is the undisputed king of major currencies thus far, though the EUR has begun mounting a challenge as of late – at least according to some experts. The USD is the most traded currency in the world, and it is the most popular reserve currency as well. The USD was the currency that began the floating trend back in the 70s, a trend which is now the mainstream.

The strength of the US dollar is drawn from the massive economy of the country, and its massive internal market. Every significant economic sector is well represented in the US economy, beginning with energy and various commodities, and wrapping up with manufacturing and finance.

The HUF

Introduced in 1946 in its current form, the Hungarian Forint is a currency the roots of which reach back several centuries. It is the only currency once used by a socialist country that is still in use today. Though some say that the days of the Forint are numbered, as Hungary is seeking to replace it with the Euro, that isn’t necessarily true. Lately, there has been a marked drop in the enthusiasm regarding the adoption of the EUR. The head of Hungary’s National Bank now puts the earliest possible EUR adoption date to 2031.

USD/HUF Analysis

The Forint is closely correlated with the Euro, therefore the biggest influence on its value is exerted by various political developments touched off by Hungary’s adoption of the common currency. The USD/HUF pair is not particularly suited to carry trading.

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