EUR/PLN to trade sideways at around the 4.70 level through to year-end – Commerzbank

EUR/PLN is set to trade sideways from here. Especially during 2022, economists at Commerzbank forecast the 4.70 level.

In 2023, the worst of the inflation impulse is expected to be over

“We see risk that volatility will remain high because of regional geopolitical developments, latest dovish surprise by the central bank, and EU disputes. Our base-case, however, is that EUR/PLN will trade sideways at around the 4.70 level through to year-end.”

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