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Zloty Retreats For Third Consecutive Day, POLGB Yields Climb

PLN

EUR/PLN has pierced the PLN4.75 mark today, printing new multi-week highs in the process. The rate last changes hands +134 pips at PLN4.7595, which brings Nov 16 high of PLN4.7848 into view. Conversely, bears initially look for a pullback towards Feb 2 low of PLN4.6787.

  • POLGB yields are 10.1-12.0bp cheaper across the curve, with 10-year yield operating just shy of the psychological 6% figure. Its spread with 10-year Bund yield has widened at the margin.
  • The NBP will announce its monetary policy decision tomorrow, with Governor Glapinski set to hold a press conference the day after. The local economic docket is otherwise very light through the remainder of the week.

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