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Zloty Extends Gains, EUR/PLN Pierces Key Support

PLN

EUR/PLN briefly pierced key support from Dec 26 low of PLN4.6270 as bearish pressure remains even as EUR/USD has ticked away from session lows. The rate last deals at PLN4.6273, down 138 pips on the day, and a clean breach of the aforementioned support level would expose the PLN4.60 handle.

  • Local headline flow has been light and revolved around Poland's decision to block Ukrainian grain imports. The NBP will release core CPI data for March at the top of the hour.

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