Weakening of Polish Złoty follows US dollar’s surge

On Thursday morning the złoty was trading at 0.24 to the US dollar, its lowest levels in recent months in comparison to the American greenback. Today the auction of Polish bonds, worth PLN 3 to 5 billion, will be introduced by the Polish Ministry of Finance, according to a report in the Polish press. Speculators forecast that Polish bond yields could increase substantially, increasing the possibility that investors in Poland could raise interest rates, the report added. The lower value of the zloty, however, has coincided with an increase in exports from the country thus far in 2016.