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ING See Further FX Gains in CEE Region

CEE FX
  • In the FX market, EUR/HUF and EUR/CZK should continue to slide lower against the euro, ING say. However, deteriorating global market sentiment may slow their path, but the interest rate differential and EUR/USD still point to stronger levels.
  • For now, ING see a gravity point of 375 EUR/HUF and 23.40 EUR/CZK. The Polish zloty will be watching the press conference today, which is unlikely to bring positive momentum for FX.
  • ING expect the zloty to remain in its long-term range of 4.67-4.69 EUR/PLN.

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