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EUR/PLN Holds Above 4.50 As EUR Sentiment Dips

POLAND
  • Local rates failed to pull lower in yesterday's session, bear steepening throughout the session.
  • 5Y & 10Y trading around prior highs at 0.625 & 1.28 respectively.
  • EUR/PLN mostly flat at the open, despite an early bid in the USD. Spot now hovering above 4.50 after pulling back higher for two straight sessions.
  • No further news on the FX loan fix as mixed reactions emerge from various banks.
  • Preliminary 4Q GDP will be the focus today expected to print -1.0% vs 7.9% prior & y/y at -3.0% vs -2.5% prior.
  • Better than expected print may add weight to PLN optimism, but virus concerns in Europe and the UK may temper positivity across CEE.
  • Sup1: 4.4992, Sup2: 4.4885, Res1: 4.5085, Res2: 4.5179
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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