Zloty Drops as Samaras Talks to Merkel
The Polish zloty fell today amid talks that Greece may fail to convince Germany to allow the next tranche of bailout, damping risk appetite among Forex market participants and reducing demand for currencies of European nation.
Greek Prime Minister Antonis Samaras is meeting German Chancellor Angela Merkel today in order to convince the German leader that the indebted nation is able to meet the bailout requirements, at least if more time is given. Some German politicians say that the exit of Greece from the eurozone would not be a problem, spurring fears that Germany would not attempt to prevent the Hellenic Republic from leaving the currency union. Poland is a member of the European Union and as such is very vulnerable to any bad news from the eurozone, even though it uses its own currency, not the euro.
USD/PLN was up from 3.2608 to 3.2780 as of 14:10 GMT today.
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Earlier News About the Polish Zloty:
- Zloty Rises with Poland's Retail Sales (2012-03-26)
- 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)