PLN seen gathering further traction – Danske Bank

Pablo Piovano FXStreet

The Polish Zloty remains poised to appreciated further in the next months, suggested Jens Pedersen, Senior Analyst at Danske Bank.

Key Quotes

“Yesterday, the MPC of the central bank of Poland struck a relatively more hawkish tone at the press conference following the policy meeting”.

“It appeared to be more concerned about the possible inflationary impact of higher wage demand as foreign labour inflows dry up and given higher electricity prices”.

“The PLN strengthened yesterday following the hawkish signal and we think it could see further gains as inflation picks up speed in coming months”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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