The USD/HUF pair sees relatively low trading volumes, most of which is due to the dominant position of the greenback in the world markets. The USD is obviously a major, while the HUF is not. The pair the two currencies make is therefore neither a major nor a commodity pair.
The USD
The most dominant currency of the world in almost every regard, the USD is by far the most traded currency and the most popular reserve currency. What’s more, it is used to express the value of commodities such as gold and oil, and even modern-era digital commodities such as various cryptocurrencies.
The USD permeates every nook and cranny of the global economy. It is used by several countries other than the US as their national currency and some 23 countries have their currencies pegged to it.
The USD was the currency which started the currently normal trend of floating..
The HUF
The HUF in its current shape and form may be the oldest currency once associated with a socialist state still in use, but its history reaches way further back in time than that. Given that the country is an EU member, and that its economy is closely linked to the Eurozone, the HUF is expected to be replaced by the EUR sometime in the future.
In the wake of the 2008 financial crisis though, retaining the flexibility conferred by a national currency has become very attractive for the countries that have not yet joined the EUR. Still, Hungary is bound by treaty to join sometime. The main exports of the Hungarian economy are equipment and machinery.
USD/HUF Analysis
For all practical trading purposes, the USD/HUF mirrors the USD/EUR pair. Though closely dependent on the Euro, the HUF might experience variance due to political events in the country, as well as global capital investment fluctuations.