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EUR/PLN Rattled by Protests, FX Loan Loss Provisions

POLAND
  • Local rates bull flattening stalled out slightly in yesterday's session. 10Y trying to push below 1.14 support to take the next leg lower.
  • EUR/PLN spiked higher at the open, breaking the 4.5525 level to reverse off 4.5590 above.
  • $ buying still keeping EUR/USD under pressure, weighing on EUR as travel bans dent sentiment.
  • Uptrend is still holding and may remain biased higher as pro-choice protests re-emerge and the NBP is pressured to buy CHF to offset FX loans at local banks.
  • Res1: 4,5590, Sup1: 4.5525, Sup2: 4.5464
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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