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PLN Strongly Supported By The Fall In Political Uncertainty

POLAND
  • Momentum on PLN has been strong this week following Glapinski comments and the fall in political uncertainty.
  • NBP Governor commented on Wednesday that the central bank welcomes stronger zloty (against Euro).
  • In attempt to ease the tensions with Brussels, President Duda will propose a bill to the parliament that includes changes to the Disciplinary Chamber of the Supreme Court.
  • In addition, Poland PM Morawiecki signed a deal yesterday with Czech counterpart PM Fiala to end the on-going dispute on Turow mine.
  • PLN has been the best performing currency among the EM world this week, up 2.9% against the US Dollar.
  • This morning, economic data showed that unemployment rate increased to 5.6% in January, up from 5.4% the previous month.

Source: Bloomberg

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