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PLN: Zloty Edges Higher Amid Light Domestic Docket

PLN

EUR/PLN last changes hands -42 pips at 4.3098, with bears looking for a move towards 4.2791, the 76.4% retracement of the May 28 - Jun 14 rally. On the flip side, bulls see 4.3360, the Jun 21 high, as their initial target. A break here would open up 4.3826, the Jun 14 high.

  • The local economic docket is virtually empty. The focus turns to flash CPI data for June, due tomorrow morning, and the NBP's rate decision, due next Wednesday. Communications from Polish central bankers have consistently amounted to a message that stable interest rates represent the most probable scenario for this year.
  • POLGB yields are marginally mixed after erasing initial upswings. The WIG20 Index has ticked higher but is yet to test yesterday's highs and cyclical highs printed in mid-May.

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