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Zloty Trims Losses But Remains Worst EMEA Performer

PLN

EUR/PLN has now given away most of its earlier gains but the Zloty remains the worst EMEA performer today. The rate operates -31 pips at PLN4.5870, with familiar technical levels still in play, as yesterday's extremes are intact.

  • POLGB has twist steepened, with yields last sitting -4.9bp to +3.1bp. Local-currency bonds took a hit alongside weakness in core FI space, but 2-year POLGBs remain afloat.
  • NBP's Iwona Duda told Reuters that it is too early to discuss interest-rate cuts, as "the uncertainty is too high," even as inflation is expected to slow sharply over the coming quarters.
  • RMF FM radio reported that the military object found near the city of Bydgoszcz in northern Poland was likely linked to a recent test of a missile defence system which Poland intends to buy for its army.

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