RTRS:Forint hits 8-mth low as euro falls after ECB
(Reuters) - Hungary's forint fell 0.7 percent from its opening level to an 8-month-low at 279.25 versus the euro by 0814 GMT on Friday, pressured by a retreat in the single European currency against the dollar.
By 0823 GMT, the forint had rebounded to 278.65 per euro.
"We are weakening because of the falls in the euro, which has been falling since Thursday, this is the only factor driving losses in the forint," a Budapest-based currency dealer said.
"Yesterday's Trichet comments, that no further (ECB) rate rises can be expected, moreover, markets are now beginning to even envision a rate reduction, these are not euro-supportive in the near term."
She said the 279 level looked like a strong support for the forint, but if that level falls, the next stop could be 280. (Reporting by Gergely Szakacs)
