Sumary of Zloty continues to struggle on policy divergence:
- At 0726 GMT, the zloty was down 0.08% versus the euro, while the Czech crown was flat and the Hungarian forint was marginally stronger.
- “Therefore, the U.S. dollar may gain, while the zloty and other currencies in the region will be under depreciation pressure, hence the EUR/PLN exchange rate may move away from the level of 4.55, especially if the data from the U.S. and the euro zone released today surprise negatively.
- Article content The Polish central bank has so far held off on monetary tightening over fears of choking off the economic recovery.
- “Polish inflation is running at 5.4% and underlying core CPI momentum is the fastest among CEE peers.
- “In Hungary, fundamentals are moving in the opposite direction: inflation could be about to peak, but the central bank is still hiking rates.
- Hungary’s central bank, which raised its base rate by a combined 90 basis points since June to 1.5%, heads into a pivotal meeting next week that could determine the pace Story continues below This has not loaded yet, but your article continues below.
- CEE SNAPSHO AT MARKETS T 0926 CET CURRENC IES Latest Previou Daily Change s bid close change in 2021 EURCZK Czech EURHUF Hungary 0 0 EURPLN Polish EURRON Romanian EURHRK Croatian EURRSD Serbian 0 0 Note: calculated from 1800 daily CET change Latest Previou Daily Change s close change in 2021 .
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