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PLN Remains Under Pressure as Virus Conditions Worsen

  • Local rates open marginally firmer following a weaker session yesterday, with selling mostly concentrated in the belly.
  • Most of yesterday's weakness has been retraced, but price action remains subdued.
  • EUR/PLN is trading slightly lower at the open after coming under pressure in yesterday's risk-off session.
  • Virus concerns and the NBP's hardline dovish stance keeping the sell-side bearish on PLN in the near-term.
  • Plenty of data on the agenda today with retail sales forecast to bounce back nicely.
  • Upside in the cross also supported by weakness in EUR/USD and continued uncertainty in the FX loan saga.
  • Intraday Sup1: 4.6063, Sup2: 4.5988, Res1: 4.6281, Res2: 4.6342
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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