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EUR/PLN Pops as $ Buying Pulls the EUR lower

POLAND
  • Local rates bull flattening at the open. 10Y leading the way after pulling lower during yesterday's session.
  • 5Y looking to hold the retracement back towards 0.54.
  • EUR/PLN on a sharp run higher this morning, fuelled by weakness in EUR/USD to decisively break the sideways channel held since 13 Jan.
  • Spot now trading above 4.5525 resistance, with 4.5590 and 4.5688 levels above.
  • Failure to remove covid restrictions and a possible bias toward tightening should also weigh on PLN optimism. Sup1: 4.5464, Sup2: 4.5414.
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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