EUR/PLN has caught up with Danske Bank’s 12M forecast of 4.74. Their economists have revised the near-term outlook for the pair slightly to the downside.

A bit bearish on the zloty

“We continue to remain a bit bearish on the PLN on a combination of softer NBP stance, global and Polish recession fears and weaker EUR.”

“We revise our near-term outlook path for EUR/PLN down to 4.72 (from 4.80) in 1M, 4.74 in 3M (from 4.78), 4.76 in 6M and 4.76 in 12M (from 4.74).”