Poland's zloty and T-bonds stable in pre-Christmas trade
Poland's zloty should remain in the EUR/PLN 4.06-4.11 range as activity dies out before Christmas holidays, while T-bonds open with wide bid/ask spreads and no transactions on Thursday morning, local players told PAP.
"The activity on the market is lower and there are no significant changes [in zloty exchange rate] and the zloty should remain in the EUR/PLN range of 4.06-4.11," Kredyt Bank FX dealer Robert Kesicki told PAP.
Given the positive sentiment on foreign markets zloty should remain stable at current levels, although lower liquidity may increase volatility, the dealer noted.
Polish T-bonds open with wide bid/ask spreads and no transactions, with low liquidity potentially causing higher volatility, ING bond trader Marcin Zarzycki told PAP.
"The markets opens wide, with no changes [to the close]," Zarzycki said.
Some transactions may be expected as an aftermath of the Wednesday [yield decline] move, which took place after the publication of the industrial output data, the trader said.