On Tuesday evening we observe the zloty strengthening against the main currencies. You have to pay less for the euro and the US dollar. However, the Polish currency gained the most against the Swiss franc.
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“During today’s session, the zloty remains relatively stable, with a tendency to strengthen slightly,” said Łukasz Zembik, head of the analysis department of the TMS Brokers Brokerage House in an interview with the Polish Press Agency.
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On Tuesday, around 6.50 pm, you had to pay PLN 4.70 per euro. – (…) so compared to the last week’s peak around PLN 5 per euro, we can say that the zloty is strong, but compared to the last dozen or so months it is still under pressure – Zembik pointed out.
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In his opinion, “the last strengthening is the effect of hopes for working out an agreement between the Ukrainian and Russian parties”. – You can see that the market is slowly starting to discount the positive end of the war, although I believe that the end of the war is still a long way off. We can see that the talks are ongoing, the market is slowly starting to price it in, the capital is returning to our market, the stock markets rebound and the zloty is stronger in relation to the euro, dollar or franc – said Łukasz Zembik.
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The US dollar cost nearly PLN 4.30.
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We saw a level of PLN 4.56 in the CHF / PLN pair.
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You had to pay PLN 5.60 for the British pound.
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On Wednesday, the Federal Reserve (Fed) meeting will take place, however, according to Łukasz Zembik, it should not bring any surprises. – I think that the Fed meeting is already priced and at this point the Federal Reserve will not surprise the market with anything new. Some time ago the Fed was expected to raise rates by 50 basis points, then it was denied. The effect of the war is also such that the Reserve will not tighten the policy any more. Therefore, the move by 25 basis points remains the broad consensus, he said.
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photo-source">Main photo source: Shutterstock
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