Zloty Rebounds with Bonds

  June 21st, 2013 at 12:19, Vladimir Vyun

Polish coins on a zloty noteThe Polish zloty gained today, bouncing from the previous huge slump, as nation’s bonds rallied and traders speculated that the drop was excessive.

The yield on bonds maturing in 10 years dropped seven basis points to 4.19 percent. It jumped 40 basis points yesterday, the biggest gain since October 2008. Risky currencies demonstrated massive losses after the US Federal Reserve suggested that it may reduce its stimulus and now they are struggling to recover. The zloty tumbled as much as 1.8 percent yesterday, reaching the lowest level in a year.

USD/PLN fell from 3.2871 to 3.2827 as of 12:19 GMT today.

If you have any questions, comments or opinions regarding the Polish Zloty, feel free to post them using the commentary form below.

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