Future bright for CE-3

- By FX Markets Staff
- @FXMarkets_
- 22 Dec 2008

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Slovakia's eurozone accession in January will lock in an exceptional rally: since its Exchange Rate Mechanism II (ERM-II) entry in 2005, the Slovak koruna has gained 21% against the euro. Does 2009 hold a similar convergence rally in store?

We think so, and expect substantial gains for the Central European Three (CE-3) currencies - the Polish zloty, the Hungarian forint and the Czech koruna - on this basis. Amid the turmoil, the markets seem to have priced out Poland's ERM-II accession in 2009

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