Judging by Nintendo’s earnings report, the company was hit by two main issues: hardware and software sales were off, and it was contending with an extremely strong yen. In fact, the company was forced to take a 52.4 billion yen ($690.5 million) foreign exchange loss, due to unfavorable exchange rates between with the dollar and euro.
By Anita Komuves BUDAPEST, July 19 (Reuters) – The forint rose on Tuesday, outperforming its regional peers, yến sào hải phòng supported by the Hungarian government’s measures to tackle a budget deficit and the country’s willingness to strike a deal with the European Union about recovery funds.
The forint strengthened 0.31% to 399.25 per euro. “The forint started outperforming the region last Thursday after the government modified the utility price cap and foreign investors started to trust that the government is serious about lowering the budget deficit,” an FX trader in Budapest said.
The currency had touched a historic low of 416.90 earlier this month on worries over high inflation, a twin deficit and tensions with the European Union. “News of progress about talks over EU funds is also helping, along with high cenbank rates and a weakening dollar.” Prime Minister Viktor Orban’s government last week scrapped a years-long cap on utility prices for higher-usage households.
Orban’s chief of staff said earlier this month that talks with the EU have progressed over recovery funds as Hungary made concessions on four issues. The European Central Bank’s rate meeting on Thursday and recession fears stoked by worries over gas supplies could also affect the rate of the forint and its regional peers this week, analysts said.
News on Monday that Gazprom has invoked force majeure on some gas supplies has raised fears that Russia will keep the Nord Stream 1 pipeline closed beyond July 21, when the annual maintenance period ends. “The question of the restart of the gas pipeline can be more important (than the ECB’s meeting) as turning off the gas taps would cause an energy and economic crisis,” Gergely Suppan, senior analyst at Takarekbank wrote.
Elsewhere, the Polish zloty firmed 0.18% to 4.7700 per euro, helped by the easing of the dollar. “The correction in the U.S. dollar seems to be the trigger… this is purely a technical move,” Piotr Bartkiewicz, an economist at Pekao in Warsaw said. The Czech crown slid 0.12% to 24.540, while the Romanian leu was flat.
CEE SNAPSH AT MARKETS OT 1031 CET CURREN CIES Latest Previo Daily Change us bid close change in 2022 EURCZK Czech
40355. -0.33% -20.70 t 06 51 % .WIG20 Warsaw <.WIG20 1651.2 1669.4 -1.09% -27.16 > 4 8 % .BETI Buchare 12148. 12111. +0.30 -6.99% st 35 89 % .SBITO Ljublja <.SBITO 1125.1 1139.9 -1.30% -10.38 P na P> 1 5 % .CRBEX Zagreb <.CRBEX 1940.0 1944.5 -0.23% -6.70% > 8 5 .BELEX Belgrad <.BELEX 842.71 845.48 -0.33% +2.67 15 e 15> % .SOFIX Sofia <.SOFIX 607.34 607.38 -0.01% -4.46% > Yield Yield Spread Daily (bid) change vs change Bund in Czech spread Republi c CZ2YT=
And on day two of the UK’s sizzling temperatures Lizzie Cundy embraced the sun again, stripping down to a racy swimsuit.
Bryonie King is accused of attacking Jasmine Rampton (pictured) while they were students at Hartpury College in Gloucestershire in March, last year