PLN seen gathering further traction – Danske Bank

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”.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.