EUR/PLN: Testing levels around 4.60 – Nordea

A cascade of easing measures along with a lukewarm global outlook are the reasons to keep a negative short-term bias on the PLN by analysts at Nordea.

Key quotes

“We do not rule out another rate cut in the coming months, which could weaken the PLN further. This is though not our main scenario, as further easing would likely be done via QE and TLTROs.”

“We expect EUR/PLN to test levels up to 4.60 in the short-term.” 

“In the second half of the year, we expect a mild PLN appreciation as the market volatility may ease.”