17/3 CEE markets under pressure

Today, the CE3 markets are all under pressure. Earlier today Polish President was reported saying on Reuters that Poland will not be able to adopt the EUR in 2012. There doesn't seem to be much new here as the benefits of joining the EUR for CE3 are no longer a clear cut case. But hedge funds have bought EM for short-term rallies in the recent past, (or some others just getting out of EM shorts) and have been selling USD ag CE3 (as well as in USDMXN) this could push some fresh positions if EM continues to get squeezed