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US TSY FLOWS

Selling Into Session Highs

US

Build Back Better Still On The Agenda

EQUITIES

EU Bank option Vol trade

US EURODLR OPTIONS

March Upside Call Unwind

CORN TECHS

(H2) Rebound Extends

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  • Significantly ‘oversold’ PLN has been consolidating strongly in the past week, with USDPLN breaking below its 4.0725 support, which corresponds to the 23.6% Fibo retracement of the 3.6170 – 4.2130 range.
  • Market has been pricing in a more aggressive (i.e. 75bps) hike for next week’s meeting (December 8) following the positive surprise in inflation yesterday (+7.7% YoY vs. 7.3% exp.), therefore supporting the Polish zloty.
  • Next support to watch on the downside stands at 4.0370, followed by 4.0110 (50DMA).

Source: Bloomberg/MNI