Forex News

The Polish zloty is facing a scenario different from its neighboring currencies in the Baltics, central Europe and the euro as interest rates may rise in the following months to control the country’s growing inflation, helping the zloty to climb in forex markets this Thursday.

The Polish currency started another week gaining versus the euro as the economic recovery in the country and in other regions around the world, specially in North America, is making traders to bet in the zloty regionally, considering the Eurozone current crisis.

The Polish currency fell versus most of the main currencies from outside the European Union as the emerging budget problems in the region and an economic slow down among its trading partners decreased appetite for assets in the country.

The zloty advanced today versus the euro after a GDP report showed that Poland was the only EU member country to dodge recession in 2009, bringing regional investors to inject capital betting in the resilience of the Eastern European nation.

The Polish currency advanced today in foreign-exchange markets as Pimco speculates that 2010 will allow several emerging markets to outperform other investments, favoring the zloty in this Friday’s trading session.

The Polish currency gained today versus several currencies in the region and the U.S. dollar as GDP figures fort the third quarter beat forecasts, setting the confidence towards the Polish economic recovery to higher levels.

The Polish zloty has been one of the best emergent market currencies since the world start to post its first signs of economic improvement in the first semester of this year, and today after a central banker affirmations regarding the future of the Polish currency, the zloty rallied further among its Eastern European rivals.

The Polish zloty, one of the best performers among the Eastern EU members currencies this year had its rally halted today as the national bank indicated that a strong currency may jeopardize the economic recovery in one of the biggest European nations.

The Polish currency declined today versus the euro after a Polish central bank 5 bond sale that ended with just slightly more than half of the bond offered sold, suggesting that attractiveness and confidence towards zloty-priced assets remains rather mediocre.

The Polish currency extended last week’s gain this week as the Eastern European nation is showing one of the quickest recoveries in the region, increasing attractiveness for the zloty regionally.