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Zloty Weakens, POLGB Yields Edge Higher

PLN

EUR/PLN sits in positive territory after climbing to an intraday peak of PLN4.6489 only to fully unwind those gains and then edge higher anew. The pair last deals +90 pips at PLN4.6296 and bulls need a break above Apr 6 high of PLN4.6947 to open up scope for further gains. Meanwhile, bears look for a retreat towards the PLN4.60 figure.

  • POLGB yields sit slightly above neutral levels as local-currency bonds underperform CE3 peers. In the equity space, benchmark WIG20 index has shed ~1.3% so far.
  • Poland reached a deal with Ukraine to allow for renewed transit of Ukrainian grain via its territory with increased surveillance and monitoring.

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