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PLN: Zloty Little Changed As Floods Take Focus

PLN
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion

EUR/PLN holds steady at 4.2759 as EM FX space awaits the Fed's monetary policy decision tomorrow. From a technical standpoint, bears look to force a breach of Aug 16 low of 4.2614 before setting their sights on the 4.25 area. Bulls keep an eye on Aug 28/Sep 12 highs of 4.3039/43.

  • Local headline flow has centred around widespread flooding in the southwestern part of the country. The rain from "Storm Boris" has swept through central and eastern Europe, causing worst floods in years. Santander remind that the total cost of the 2010 floods was equivalent to around 1% of GDP.
  • POLGB yields are little changed ahead of today's switch auction. The WIG20 Index has added 0.8% but stays within a familiar range.
  • The local data docket is empty today. Monthly economic activity indicators for August will start trickling through later this week.
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EUR/PLN holds steady at 4.2759 as EM FX space awaits the Fed's monetary policy decision tomorrow. From a technical standpoint, bears look to force a breach of Aug 16 low of 4.2614 before setting their sights on the 4.25 area. Bulls keep an eye on Aug 28/Sep 12 highs of 4.3039/43.

  • Local headline flow has centred around widespread flooding in the southwestern part of the country. The rain from "Storm Boris" has swept through central and eastern Europe, causing worst floods in years. Santander remind that the total cost of the 2010 floods was equivalent to around 1% of GDP.
  • POLGB yields are little changed ahead of today's switch auction. The WIG20 Index has added 0.8% but stays within a familiar range.
  • The local data docket is empty today. Monthly economic activity indicators for August will start trickling through later this week.