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Forex Flash: EUR/PLN gains 0.2% after NBP holds rates - TD

By FXstreet.com,  July 04, 2012, 03:44:00 PM EDT

FXstreet.com (San Francisco) - The National Bank of Poland has decided to leave the base rate unchanged at 4.75%, in line with TD Rates' forecast and consensus market view.

"Despite the unanimous consensus expectations for no change in interest rates today, EUR/PLN gained 0.2% after the rate announcement, as the markets priced in some risk of a surprise hike, and is now trading at 4.2160," says TD. "Going forward, we expect the market to remove the residual chances of monetary tightening, which could induce some steepening both in the FRA curve and IRS."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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