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Polish Risky Assets Suffer Extreme Losses Amid Re-escalation in Tensions

POLAND
  • Polish (and CEE) assets have been under intense pressure in the past two days amid re-escalation in tensions.
  • WIG20 is now down by over 22% since its January high and currently trading at its lowest level since March 2021, given up most of last year’s gains.
  • PLN also experienced significant selling pressure in the past two days, with USDPLN surging up to 4.1650 earlier before edging lower.
  • Key resistance to watch on USDPLN stands at 4.2130, which was the high reached in the end of November.
  • This morning, government spokesman Muller said that Poland will seek ‘far-reaching’ EU sanctions against Russia.
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