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PLN: Zloty & POLGBs Edge Higher, Building On Yesterday's Gains

PLN

The zloty extends yesterday's gains, which took EUR/PLN through support from its 20-EMA, albeit more cautiously. The pair has shed just 17 pips this morning to last trade at 4.2928 and bears look for a move towards 4.2791, the 76.4% of the May 28 - Jun 14 rally, followed by the 4.25 area. On the flip side, bulls initially look for a rebound towards Jun 21 high of 4.3360.

  • POLGBs are a touch firmer, extending recent gains, with the 5-8 sector outperforming. The WIG20 Index advances further, printing its best levels since May 23.
  • Poland's unemployment rate edged lower to 5.0% in May from 5.1% prior, in line with consensus and a preliminary estimate provided by the government. 

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