Deutsche Bank
FX Blueprint 2026: The Great Rotation
LIVE12 December 2025USD bearish
Back to CurrenciesBullish
USD/PLN
PLN benefits from EU fund inflows, NBP near terminal, and strong growth linkage
DB Forecast Path
Cross-Firm Forecast Comparison
Key Drivers
EU fund inflows
German fiscal linkage
NBP near terminal
Strong growth
Inflation convergence
All Firm Targets (Dec '26)
JPMBullish3.38
INGBullish3.38
GS3.35
BARCBullish3.35
MUFG3.32
MS3.30
BofABullish3.28
DBBullish3.25
Analysis Summary
PLN benefits from EU fund inflows, NBP near terminal, and strong growth linkage to German fiscal expansion. Top CEE pick.