The Hungarian forint traded lower against the U.S. dollar in the European session on Thursday, as the latter rose across the board after Beijing's announcement to decrease tariffs on some goods imported from the United States.

Earlier in the day, China said it would slash tariffs on $75 billion of U.S. imports in half as part of its efforts to implement a recently signed trade deal.

The forint dropped to a 1-week low of 306.95 against the greenback, from Wednesday's closing value of 306.27. The forint may locate support around the 308.00 level.

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