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Local Rates Underperform CEE Peers Ahead Of Veto Meeting

POLAND
  • Poland local rates continue to underperform CEE peer Hungary.
  • Key decision at today's meeting over the EU budget should see choppy trading into the afternoon.
  • 2Y yields notched higher towards the end of yesterday's session, now trading higher above the 0.00 mark at 0.036, while the 10Y drifted higher towards 1.25.
  • USD/PLN remains in a choppy range with a slight downside bais after moving through 3.7473 support.
  • Focus remains on EUR-side drivers with no data on the agenda for today. Headline risks regarding the EU budget and sidelining Poland's veto capabilities should weigh on PLN.
  • Next support 3.7304, while upside resistance remains at 3.7730.
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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