October 04, 2023 13:23 GMT
EURPLN Dips to 4.59 on NBP Decision
- Most analysts had been expecting a 25bp rate cut but consensus was far from unanimous, with some having expected a pause and others pencilling in another 75bp reduction.
- EURPLN dipped to as low as 4.5896 on the back of the decision, closely matching the Sep 27 low. Initial firm support at 4.6037, the 20-day EMA, has also been pierced. A more sustained break would open the 50-day EMA at 4.5541.
- The press release will be released at 1500BST/1600CET.