Now the Romanian leu is kicking off as well

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The story "Now the Romanian leu is kicking off as well" was covered 19 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 19h ago

Now the Romanian leu is kicking off as well - Financial Times

Quick Summary:

However, assuming we are right that NBR now allows a decent adjustment in EURRON spot, the forwards curve should trade less like a ‘devaluation’ pricing as the adjustment happens while the FX market demand/supply starts to normalize.

JPMorgan’s analysts yesterday wrote that the move has been driven by a mix of hedging and outright speculation that the Romanian central bank will have to abandon the leu’s managed-float regime and let it sail where the wind takes it.

With the substantial shift in EURRON intervention policy surprising the market, FX spec/hedging demand can persist with continued offshore/onshore frictions.