Zloty to Forint Left at Draghi’s Mercy After Losses
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Strategists divided on the outlook for eastern Europe’s currencies agree on one thing: Mario Draghi holds the key to their performance in the months ahead.
Societe Generale SA and Commerzbank AG are bullish on Poland’s zloty and Hungary’s forint amid bets some of the 1 trillion euros ($1.3 trillion) of extra stimulus the European Central Bank has pledged to pump into the euro-region economy will head eastward in search of higher yields. Danske Bank A/S says ECB President Draghi will need to make more funds available for the currencies to strengthen.