The euro and dollar rates dropped by a few cents. The zloty is making up for earlier losses, benefiting from a slight improvement in sentiment on financial markets. “This may affect the global risk appetite and, indirectly, the dollar,” economists point out, announcing the Fed meeting.
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Currency rates. Moderate optimism returns to the markets
“For the moment moderate optimism returns to the markets resulting from signals that Iran will partially allow traffic in the Strait of Hormuz. For this reason too the dollar is giving back part of its previous strengthening” – comments Przemysław Kwiecień, chief economist of XTB, on the current situation on the currency market.
Until noon, the dollar exchange rate fluctuated between PLN 3.69 and PLN 3.70, and the day before it reached almost PLN 3.73.
On Wednesday, the dollar is valued lower than on previous days
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Stooq, own study
In the first part of the day it was also possible to buy euros slightly cheaper. The rate was around PLN 4.26 compared to almost PLN 4.28 recorded a day earlier.
See also: New week, new records on the raw materials market. The dollar is losing ground against the zloty again
Euro exchange rate for the last three days
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Stooq, own study
Currency rates. The focus is on the Fed meeting
PKO BP economists indicate that already on Tuesday, the markets showed moderately positive sentiment despite the lack of a breakthrough in the ongoing war in Iran. “On Wednesday, we expect a continuation of the relatively favorable market atmosphere, while investors' attention will focus on the announcement after the Fed's decision-making meeting” – they comment.
They emphasize that it will be important, among others, to: new macroeconomic forecastswhich may take into account the impact of the current energy shock on inflation and the pace of US economic growth.
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“This may affect the global risk appetite and indirectly the dollar. Assuming no breakthrough in the Middle East, we believe that the global environment will not support further appreciation of the zloty, therefore during Wednesday's quotations we assume stabilization of EUR/PLN and USD/PLN rates around 4.26-4.27 and 3.69-3.71, respectively” – PKO BP economists estimate.
