The Polish zloty held to the 3.90-3.9250 EUR/PLN range throughout Tuesday and eventually ended the session roughly unchanged after the rebounding forint provided just enough steam for the unit to launch an (unsuccessful) attack on 3.90. The HUF retreated to pre-opening levels before the day was over though, and the zloty followed suit a while later as the ZEW numbers and resulting euro rebound added to the gentle downside.
Regarding today’s session it will all be up to be the global sentiment once again, hence with the domestic data calendar fairly uninspiring all eyes should remain focused on the forint.
(CSOB - Investment research)