The weeklyFiX was sent a note this week saying that the Polish government was discussing a new regulation that would result in the cancellation of currency options transactions written by some of the country’s exporters. The news, first mooted back in December caused quite a sharp move in EUR/PLN. It also rekindled memories of the debacle in Russia in 1998, when a dodgy Micex fixing resulted in many Western banks having to wear losses when they thought they should be booking profits.
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