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Nordea Recommend Short EUR/PLN

PLN

Monday saw Nordea note that "when data surprises are positive in the Euro area, it usually means that high beta currencies (to Euro area performance) such as PLN and HUF perform with a time-lag. EUR/PLN already trades close to decade-highs ahead of the ruling on CHF denominated loans the 13th of April. We find the risk/reward attractive in short positions in EUR/PLN both due to the technical picture and due to the fundamental picture with potential positive vaccine news from Europe and strong data due to base effects in April. We enter short EUR/PLN with a target of PLN4.39 and a tight stop at PLN4.71."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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