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CEE FX: ING Remain Positive on PLN, CZK

CEE FX
  • ING note that part of the CEE market was closed for a local public holiday and we should see some catch up with higher core rates today. The Czech koruna and Hungarian forint markets were open yesterday and saw some losses already.
  • However, ING still believe there is more space for the CEE currencies to rally. EUR/USD is coming back after the US data and some pressure on paying rates in CEE following higher core rates should again improve the picture for CEE currencies.
  • ING remain positive on the zloty and koruna, whereas for the forint they want to be more neutral at these levels. But it is clear that from these levels it will be harder for CEE to see further gains, they add.

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