Forint and zloty recover but remain vulnerable
Polish inflation stays low
CEE currencies corrected some of their recent loses yesterday. The forint, which had shortly broken through the technical barrier at 300 EUR/HUF on Tuesday, strengthened back to 296 EUR/HUF yesterday. Also the zloty rebounded to 4.25 EUR/PLN. The Czech koruna reconfirmed its role of a safe haven and remained stable with minor fluctuations slightly above 25.6 EUR/CZK. As the recovery of zloty and forint was not supported by positive changes in fundamentals, both currencies continue to be fairly sensitive to global risk sentiment. In these days, the focus is on Fed’s weakening of monetary stimuli.
Read the full report: FX Daily
KBC