Jakob Christensen, Chief Analyst at Danske Bank, believes the Polish currency could appreciate towards the 4.14 area within a year’s view.
Key Quotes
“The zloty has seen a small comeback on improved global risk sentiment and dismissed fear of a euro area debt crisis in Italy”.
“As a result the EUR/PLN has found a new range of 4.26-4.30. We think the cross will fall a bit further over the next month to 4.26 and further to 4.20 over 3M as some of the EM fears abate”.
“We still expect the strong growth and rise in inflation will give support to the zloty and therefore target the EUR/PLN at 4.16 in 6M and 4.14 in 12M”.
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