The Polish zloty lost some ground on Tuesday in reaction to the SNB intervention intended
to weaken the Slovak koruna, but the reaction of the zloty was short-lived and
modest to say the least. After opening at below 3.87 the EUR/PLN pair hit strong resistance
at 3.8760 and settled into a tight range above 3.87 thereafter.
Once the commotion around the Slovak currency fades away the market should return
to watching global equities and US data. Today trading should remain calm
ahead of the all-important Fed statement this evening.