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EUR/PLN level of 4.30 by autumn?

PR dla Zagranicy
Roberto Galea 01.07.2015 08:30
The Polish złoty could continue weakening against other currencies including the euro and the US dollar, as the Greek financial woes deepen.

At midnight between Tuesday and Wednesday, Greece defaulted on a loan repayment to the International Monetary Fund (IMF) after last-minute talks with EU leaders for a loan extension failed.

According to Kamil Maliszewski, an analyst at the mBank Brokerage House, this week should be calmer on the currency market and Warsaw Stock Exchange than the very beginning of the week. However, the turmoil may affect the dollar, the expert said.

“There is very important data from the US economy, which will be announced on Thursday – the US labour market. This, to a large extent, will influence the dollar, so the USD to PLN could be clearly affected,” Maliszewski said.

Eyes at Poland

The fate of the Polish złoty currency could be affected by national factors, particularly the autumn general elections which will likely be held in October. According to the latest polls, the conservative Law and Justice (PiS) party is enjoying the largest support at present.

“The euro may rise to PLN 4.30, or around what we saw in December last year during the market turmoil around the Christmas period,” the expert said. (rg)

Source: Polish Radio

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