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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POLAND
EUR/PLN - NBP Intervention History
- EUR/PLN pulls past NBP's prior intervention levels from Dec 29/30 at 4.5179
- Now tracking towards 4.50 round number support
- prior interventions worth +1.75%-2% typically came at the 50% retracement mark of the prior intervention
- However, the latest bout of PLN optimism has gone unanswered by the NBP
- Gov Glapinski has opted rather to guide towards space for an 1Q21 rate cuts which many see as infeasible within the MPC
- and also unwarranted with growth, export and inflation data not supporting further cuts
- Markets remain uncertain if the NBP will wade in again for PLN sales if the cross continues to push lower
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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