Free Trial

Supreme Court Ruling On FX Mortgages: ING Expectations (2)

POLAND

...and ING's expectations for the zloty: "Based on our relative value model (gauging FX equilibrium based on other market variables such as swaps) EUR/PLN 'fair' level is at 4.45, rather than 4.60 currently. Long-term models suggest EUR/PLN should head even lower (4.30-40) given a considerable current account surplus (expected above 2% of GDP in 2021). Consequently, we look for a pronounced decline in EUR/PLN in 2H21. On top of domestic factors (e.g. NBP helping with the credit conversion), an expected rise in EUR/USD should trigger stronger demand for central and eastern European currencies."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.