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CZK: Upside Pressure Remains

PLN

PLN/CZK extends gains after breaking above Mar 11 high yesterday to print its best levels since late 2020. The pair last deals +102 pips on the session at 5.9587, with the psychologically important 6.0000 figure now in sight.

  • During his most recent press conference, NBP Governor Glapinski outlined a comparison between Poland's and Czechia's responses to the latest inflation episode, arguing that Poland managed to contain price growth at a much smaller socioeconomic cost. On the other hand, the NBP is now looking to stand pat on rates in the coming months, while the CNB is expected to keep loosening policy.

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