The depreciation of the U.S. dollar (USD) has triggered a notable resurgence in a long-overlooked asset class: emerging market (EM) local currency debt. After more than a decade of subdued investor interest, funds flowing into EM local-currency bonds hit a record high, according to data from EPFR for the week ending Wednesday.

Poland has formally allocated more than 117 billion zlotys (PLN) — approximately $32 billion USD — in European Union Resilience and Recovery Funds, marking a pivotal phase in the disbursement of post-COVID stimulus capital. This figure represents 45% of Poland’s total EU allocation, underscoring the country’s accelerated efforts to leverage European funding for long-term economic revival.

The British pound (GBP) remained broadly stable against the U.S. dollar (USD) on Monday, reflecting heightened caution among investors ahead of the Bank of England’s (BoE) upcoming policy meeting. The market’s subdued tone comes against a backdrop of geopolitical instability, as tensions between Israel and Iran persist, prompting safe-haven flows into the greenback.