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ECB Jawboning Risks Curbing PLN Upside

POLAND
  • Polish local curve opens slightly lower after a choppy session on Friday kept yields pegged broadly flat.
  • USD/PLN continues to trade sideways within the 3.79-3.755 range, awaiting catalysts for more meaningful direction.
  • Retail sales data due 9amGMT expected to come in at 2.9% vs -1.8% prior may add some downside momentum to the cross, but should be primarily driven by EUR/USD side moves.
  • ECB comments regarding EUR strength beyond 1.19 may limit further PLN downside, however.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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