The Polish zloty found itself under pressure for no apparent reason yesterday

The Polish zloty found itself under pressure for no apparent reason (other than the slightly less apparent but nonetheless disturbing politics) on Wednesday and not even the stronger than expected GDP report was enough to keep the EUR/PLN pair below 3.95.

Luck changed hands later in the afternoon though and the pair eventually ended the session little changed at 3.94. W should be looking at yet another calm session today as the holiday season comes to an end. The domestic economic calendar is empty so the ECB council meeting should be the real eye-catcher of the session. Since the bank is widely expected to keep rates unchanged all eyes will be on the policy statement where a return to the “extreme vigilance” wording is expected.

(CSOB - Investment research)