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/CZK: Extending Losses

PLN

PLN/CZK loses altitude for the sixth consecutive day and last deals -135 pips at CZK5.0447. Should bears manage to force their way through the 50% retracement of the Feb 15 - Mar 15 upleg/50-DMA (CZK5.0408/5.0367), they could take aim at Mar 6 low of CZK4.9678 and a cluster of all-time lows near the CZK4.95 figure. On the flip side, bulls see Mar 15 high of CZK5.1319 as their initial target.

  • 10-year POLGB/CZGB yield spread has tightened further, touching its narrowest levels since in more than a week.
  • Poland's equity benchmark WIG20 has shed ~0.7% while Czechia's PX sits ~0.4% below its neutral levels as the European equity space struggles.

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