Economists at Commerzbank expect the EUR/PLN pair to drift slightly lower to the 4.70 level during 2022. In 2023, the pair is likely to begin to trend down towards 4.65.

EUR/PLN to trade sideways from here

“Our base-case is that EUR/PLN will trade sideways at around the 4.70 level through to year-end. Even if the military situation were to calm down, monetary tightening by the Fed and ECB will leave its mark on EM assets, which will prevent a noticeable recovery of the zloty.”

“In 2023, we see EUR/PLN gravitate towards the 4.65 level assuming that the worst of the inflation cycle will come into view by then.”

This article was originally published by Fxstreet.com.Read the original article here.

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