publication
2026-04-08 08:32
As usual, “at the last minute”, President Donald Trump backed down on his threats and reached a 14-day truce with Iran. This pleased financial markets, driving up the valuation of risky assets. The Polish zloty also benefited from this, and the euro and dollar quotations went significantly down.
On Wednesday morning, the euro rate dropped by over PLN 1.5, reaching PLN 4.2574. This was a reaction to the cessation of hostilities in the Persian Gulf agreed overnight and promises to open the Strait of Hormuz to navigation. A small euphoria gripped the financial markets, especially the Asian stock exchanges. Oil prices dropped by almost 15%, giving hope for an end to the fuel crisis.
A very strong reaction was visible on the US dollar market, which was drastically weakening against the euro. The EUR/USD rate increased by 0.8%, approaching USD 1.17. This caused the dollar to drop by more than 4 groszy on the Polish market, reaching a value of PLN 3.6420 in the morning. These are the lowest prices of the USD/PLN pair in over a month.
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– The key issue that will determine market sentiment today is whether the ceasefire between the US and Iran will be respected – it will result in opening navigation through the Strait of Hormuz and stopping attacks – point out PKO BP economists. – Key issues – Iran's nuclear program, control over the Strait of Hormuz and sanctions – remain unresolved – remind PKO BP experts.
Paradoxically, the Swiss franc showed the weakest reaction to the news from the Middle East. A currency that had been seen for decades as a “safe haven” in the conflict failed to play its usual role and weakened as the Gulf War escalated. Now the chances of its ending have led to… the strengthening of the franc in relation to the euro and the dollar. As a result, the Helvetian currency became more expensive by half a grosz, reaching the price of PLN 4.6234. A day earlier, the CHF/PLN exchange rate was the lowest since February.
The British pound also lost slightly, valued at PLN 4.8932 in the morning. This is only 0.7 cents less than the day before, but also the lowest since March 3.
K.K
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