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Further Upside Expression Noted

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ANZ: Turning Tide

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Japanese MOF sells Y4.54004tn 3-Month Bills:

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POLAND
  • EUR/PLN lower at the open after drifting back above 4.50.
  • Focus today on Glapinski's speech where markets are expecting a slightly more dovish tone than that lacksustre NBP statement and possibly a more hardline approach to FX intervention, without targeting a specific level.
  • Dovish comments are likely to fight the PLN's strengthening bias, but may lack substantial impact unless Glapinski comes out with an aggressive stance.
  • Sup1: 4.4812, Sup2: 4.4732, Res1: 4.5048, Res2: 4.5085
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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