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Zloty Slips In Early Trade, POLGB Yields Advance

PLN

The Zloty comes under some light pressure today, with EUR/PLN up 112 pips at PLN4.7093, despite the absence of notable local headlines that would coincide with the pair's upswing. From a technical viewpoint, gains past Feb 22 high of PLN4.7654 would be an encouraging development for bulls, while bears look for losses towards Mar 1 low of PLN4.6620.

  • POLGB yields are 7.8-8.9bp higher across the curve, with 5s underperforming, as 10-year yield has bounced off the psychological 6% figure. Benchmark equity index WIG20 has added ~0.1% ahead of the annual revision of its composition which will be implemented after hours.
  • The CJEU ruled in favour of consumers in another case related to CHF mortgage loans. Poland's financial regulator said that the ruling is in line with the legislative solutions it is looking to propose in a bid to resolve the prolonged legal spat over the controversial loans.

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