Calmer markets have provided a brief respite for non-USD currencies, though the US dollar's dominance persists amid expectations of moderating inflation. The Polish Zloty and broader CEE currencies remain under pressure due to dovish local central bank stances and global risk-off sentiment.
Key Takeaways
- 1.Calmer global markets are providing a breather for some currencies against the US dollar.
- 2.The Polish Zloty (PLN) remains under pressure due to the dovish stance of the National Bank of Poland (NBP).
- 3.The US Dollar faces a potential, though not certain, cooling in core PCE inflation data.
Table of Contents
- USD: Core PCE may come in cooler than expected
- EUR: Looking for firmer ground
- PLN: Zloty weakness to persist as NBP stays dovish and global turns risk-off
- CEE: Stronger dollar puts FX under pressure
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Authors
Francesco PesoleFrantisek TaborskyChris Turner
Securities
EURUSDEUR/PLN
Themes
USD PeakRisk Sentiment StabilizationDovish Central Banking in CEE
Regions
EuropeAsia PacificUnited StatesPolandGermany
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