Daily outlook for EM FX: Societe Generale

Quotes from Societe Generale Cross Asset Research:

-In EM, the main market mover of the last 24 hours was the CZK, which fell by 0.84% against the EUR, the biggest move in nine months, after Czech President Zeman said that he will not appoint future central bank board members who do not support euro adoption.

-Current CNB Governor Singer's term ends in 2016, and another three board members are due to be reappointed by 2018. After the SNB scrapped its floor in January, could the CNB be the next to abandon its own ceiling of 27.00 for the CZK against the EUR?

-The minutes of the last meeting of Poland's central bank are this morning forecast to reinforce expectations of a rate cut in March. EUR/PLN yesterday ran out of steam at 4.20 and could see further profit talking if a solution between the Eurogoup and Greece can be found by tomorrow.