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CEE: ING Still See Room for Further Gains Across CEE FX

CEE

ING note that although the space for gains in CEE is shrinking, they still see room for more across the board.

  • EUR/PLN fell the most across the region yesterday and ING think the PLN rally is outpacing the market a bit. While they agree with the direction, yesterday's move was probably too much, in their view.
  • On the other hand, ING think HUF has still a clear path for further gains closer to 390 EUR/HUF.
  • EUR/CZK probably needs a clearer signal from the central bank that the current dovish expectations are too far away for a further move lower, ING say.

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