April 26, 2024 09:57 GMT
Zloty Underperforms CE3 Peers, PLN/JPY Reaches Fresh Multi-Year High
PLN
- EURPLN trades 0.25% higher on Friday with the Polish zloty the poorest performing currency in the EMEA region today. Local newsflow has been scant and session ranges are well-contained within the week’s extremes. The cross remains above both the 20- and 50-day EMAs, a bullish signal which highlights the strength of the recovery from the mid-April lows.
- Further JPY weakness on the session has resulted in PLNJPY printing a fresh cycle high of 38.9608 – its highest level since 2008 – though the zloty has recorded moderate losses of 0.3% and 0.2% versus both the Hungarian forint and Czech koruna, respectively.
- For PLNHUF, the cross has drifted further away from the 50-DMA, intersecting today at 91.31. Further losses in PLNCZK, meanwhile, could expose the 100-DMA at 5.7891 – an average we have not closed below since October 2023.
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