The zloty continues to strengthen

The zloty continues to strengthen, helped by the SNB's intervention Thursday, a Pekao dealer says. However, adds the trend had started earlier. "If the PLN doesn't come back to 4.55 level against the euro, it will target 4.32 mid-term," he says, adding Pekao forecasts EUR/PLN at 4.00 by the year-end. EUR/PLN now trades at 4.4644 from 4.5420 late Thursday. Friday, it's expected to trade within 4.40-4.43 range.