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President Duda Proposes Bill To Scrap Disciplinary Chamber

POLAND
  • In attempt to ease the tensions with Brussels, President Duda will propose a bill to the parliament that includes changes to the Disciplinary Chamber of the Supreme Court.
  • Polish government promised last year that it will dissolve the disciplinary chamber in its current form “as part of a further reform of the justice system, which will begin in the coming months".
  • As a reminder, PLN has been the most risky currency among the CEE region as it has been carrying a political risk premium due to its on-going dispute with the EU bloc.
  • PLN continues its bull momentum following Duda's headline, with USDPLN approaching its psychological support at 4.
  • Next support to watch below that stands at 3.9430, followed by 3.9160 (200DMA).
  • On the topside, first resistance stands at 4.0260 (100DMA).
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