Zloty Edges Higher With NBP Drama In Focus

The zloty leads gains in EM FX space, with its CE3 peers also on the front foot this morning. When this is being typed, the rate sits at 4.3140, down 122 pips on the session. A breach of Mar 11 low of 4.2749 is needed to confirm that bearish momentum is intact. Bulls look for a rebound above Feb 7 high of 4.3564.

• NBP Governor said he was not planning to step aside during the expected parliamentary probe, which will determine if he should be referred to the Tribunal of State. He added that he would write to Prime Minister Donald Tusk to "meet and talk," and defuse ongoing tensions. The ruling coalition is expected to formally request an investigation as soon as tomorrow.
• POLGB yield curve has twist flattened at the margin. The WIG20 Index has shed 0.4% this morning.
• Poland's February unemployment data will cross the wires shortly and may have stayed at 5.4%, per preliminary guidance from the relevant ministry.