Here's Why Hungary Is Blaming Nouriel Roubini For The Drop In Its Currency
Earlier we mentioned how the Hungarian finance minister is attacking Nouriel Roubini for the drop in the currency.
Now we're getting more details.
Hungarian business site Portfolio.HU explains that apparently it was a response to a call from Nouriel's company that the Hungarian Forint was a short:
"Last Tuesday Nouriel Roubini, one of the world’s most influential financial analysts, made the following recommendation in his regular newsletter to his clients: "Until Hungary signs a new deal with the IMF we recommend short HUF." So, with this sentence he signalled for investors to bet on the forint’s weakening.
Based on the forint depreciation that started on Thursday it seems that the speculators took Roubini’s recommendation to heart and after preparing on Wednesday they have launched an attack against the forint.