EUR / PLN has traded in close ranges over the past month, but Nordea analysts believe volatility may return soon. The risk is firmly tilted downwards for the zloty.
“EUR / PLN may soon break last month’s narrow trading range of 4.52-4.57, with risk firmly tilted upwards. One factor is our generally lukewarm outlook for EM sentiment. Another is the new NBE QE program. “
“We expect the EUR / PLN to test levels of up to 4.60-4.70 in the short term. In the second half of the year, we expect a slight appreciation of the PLN as the volatility of the market could decrease. “