Currency report: Cheap as chips

On Friday in the afternoon the złoty was a touch lower because of the better than expected Polish macroeconomic data. Some players decided to cash in on this week's almost two-percent gain.

Statistical office data showed retail sales in October rose by 7.5 percent, faster than the market consensus. It weakened the bond market and the currency too. The market may now hold steady ahead of third-quarter growth data out on Tuesday and the central bank's meeting a day later. Policymakers have held fire since August amid doubts over the policies and budget plans of the new conservative government and an improving economy.

Some 15 of 21 analysts in a Reuters' poll said the central bank would hold fire on Wednesday, while forward rate agreements have priced in almost no chance of a cut in the coming months.

Marek Węgrzanowski

WGI Dom Maklerski