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PLN/CZK Sell-Off Accelerates, RSI Falls Past Recent Lows

PLN

PLN/CZK is on track to register its fifth consecutive day of losses, with the rate plunging to its lowest point in almost three weeks. This coincides with a firmer decline in the RSI, which is moving through recent lows. This comes after the index failed to print higher highs when the spot rate peaked in mid-June.

  • PLN/HUF has also been under pressure amid broad-based weakness in the zloty. The rate fell to its worst levels since Jun 14, testing support from the 38.2% retracement of its Apr 10 - Jun 20 rally.
  • Looking ahead, the focus in Poland will be on flash June CPI data, due Friday. The NBP will announce its next rate decision on July 6, which will be followed by a presser with Governor Glapinski the day after.

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