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PLN: Zloty Extends Gains, Beats Most Regional Peers

PLN

EUR/PLN has shed 121 pips, extending yesterday's losses, moving back below the psychologically significant 4.30 figure as a result. The rate operates at 4.2933 and the focus falls on 4.2671, which cushioned losses on Jul 26. On the flip side, bulls look for a rebound above Aug 9 high of 4.3309.

  • It is worth noting that the implied odds of Kamala Harris winning the US presidential race exceed those of Donald Trump returning to the White House, according to major betting market aggregators. This trend could support CEE FX owing to their exposure to development surrounding US policy towards the Russo-Ukrainian war.
  • POLGB yields are mostly a tad lower, save for 2s, with yields last seen +0.9bp to -1.9bp. The WIG20 Index is little changed at typing, with yesterday's recovery losing steam.
  • The NBP will release June current account balance at 13:00BST/14:00CEST. Consensus looks for a surplus of PLN376mn.

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