The Hungarian forint rallies

The Hungarian forint rallies as sentiment is bolstered by the Swiss central bank's moves Thursday. "Swiss action, together with the local central bank's promise of intervention, has probably managed to stop the panic in the market and could lead to a temporary HUF stabilization," a dealer says. EUR/HUF is at 293.10 versus 298.20 Thursday afternoon. Dealer sees room for HUF to firm further near term, and dip as low as 280 vs EUR, but warns that HUF-related risks remain intact and these could eventually push the cross above 300 again.