Zloty Rises with Poland’s Retail Sales
The Polish zloty erased its earlier losses today after a report showed that retail sales in Poland increase more than was predicted, reinforcing optimistic outlook for the nation’s economy.
Retail sales advanced 13.7 percent in February from a year ago, compared to the median forecast of 9.9 percent. The growth was highest in almost 10 months. The European Commission predicted that Poland’s economy will grow 2.5 percent this year, the fastest growth in the European Union. The economy expanded 4.3 percent last year, the quickest pace in three years.
USD/PLN slid from 3.1234 to 3.1202 as of 11:07 GMT today, while earlier it climbed to 3.1410.
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Earlier News About the Polish Zloty:
- Zloty Gains as Polish Retail Sales Grow with Increased Pace (2012-02-24)
- Zloty Gains as Traders Expect Intervention from Central Bank (2011-12-28)
- Polish Central Bank Keeps Rates High to Support Zloty (2011-12-07)
- Poland's Current Account Deficit Weakens Zloty (2011-02-14)
- Zloty Rise as Policy Makers Signal About Higher Interest Rates (2011-01-11)