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Zloty Trims Losses But Remains Fragile Ahead Of NBP Decision Tomorrow

PLN

EUR/PLN has pulled back from session highs (PLN4.5728), reducing its intraday gains to 40 pips, and last trades at PLN4.5644 as a result. Familiar technical levels remain in play as the rate has struggled to attack yesterday's highs.

  • POLGBs have given away the bulk of their earlier gains as yields moved higher, albeit 5s remain afloat. The WIG20 Index continues to operate just shy of neutral levels.
  • There has been a slight uptick in the Polish FRA curve on the eve of the NBP's rate decision, but the move has been rather insignificant in the grand scheme of things.
  • There is no fixed time for the announcement of the NBP rate decision tomorrow but the central bank typically says on the day when exactly it will unveil the outcome of the MPC meeting. Governor Adam Glapinski will hold his press conference at 14:00BST/15:00CEST on Thursday.

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