publication
2025-11-04 10:47
The dollar remains temporarily strong on the currency market. Its index measuring the condition against a basket of major currencies has in recent days exceeded the level last seen in May. On Tuesday night, the USD/PLN exchange rate was as high as PLN 3.70, and the USD/PLN exchange rate also remained close to this level in the morning. The euro is currently well above PLN 4.25, waiting for the Monetary Policy Council's decision.
The euro paid for the euro after 10 a.m. on Tuesday was PLN 4.2574. This is slightly more than the EUR/PLN quotations from Monday morning and the closing of the previous day, which was PLN 4.2545. After the zloty weakened against the euro over the last few days, the European currency rates stabilized above PLN 4.25 at the beginning of November.
However, as written in the Bank Millennium report, this week the zloty may continue to weaken against the euro towards the next resistance levels of 4.265 and 4.275. “This scenario would be supported by a reduction in interest rates by the Monetary Policy Council,” the bank's economists noted. The decision is expected to appear on Wednesday, but while the market predicts another rate cut, its scale is an open question.
However, the strengthening of the dollar is clearly visible. The dollar index, measuring its strength against a basket of major currencies, exceeded 100 points on Monday for the first time since May. On Tuesday morning it remained close at 99.80 points. On the Eurodollar, the EUR/USD rate tested the level of 1.15 below the level it was last in August.
After 10:33 a.m., the price for one dollar on the Polish market was PLN 3.6984, which meant an increase of 0.15 percent. relative to Monday's closing. During the night, the USD/PLN exchange rate on the less liquid market briefly exceeded PLN 3.70 for the first time since May this year. “Important support levels are approx. 3.685 and 3.675, and resistance levels are approx. 3.697 and 3.71,” wrote the Bank Millenium report.
After a temporary correction in the franc, during which the CHF/PLN exchange rate fell from around PLN 4.60 to PLN 4.5649 seen on Monday, Tuesday brought a rebound that brought the Swiss currency to PLN 4.5770, which meant over 0.2%. strengthening compared to Monday's closing. However, the British pound weakened. Just after the weekend, sterling was valued at over PLN 4.85, but on Tuesday the GBP/PLN exchange rate lost over 0.3%. and at 10.44 it was PLN 4.8339.
MKu
