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Zloty Increases Distance To CE3 Peers After NBP Rate Decision

CEE

PLN/CZK has come under pressure as the NBP released its monetary policy statement, with the Zloty and short-end POLGB yields faltering as participants scrutinise the document. The pair last deals -258 pips at CZK4.9930 as the Zloty underperforms its CE3 peers and all EMEA currencies.

  • PLN/HUF bottomed out just above the psychological HUF80.00 figure and last deals -42 pips at HUF80.26, with bears looking for losses towards Mar 1 low of HUF79.63 and Feb 15 low of HUF79.02.
  • The slightly delayed reaction seemingly comes as a function of the conspicuous absence of any notable hawkish adjustments to the statement rather than any fresh comments from the NBP.
  • Tomorrow's presser with Governor Adam Glapinski will shed more light on the MPC's deliberations and rate decision.
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