On Tuesday we observe a weakening of the zloty. The US dollar costs over 2 grosze more than the opening rate. The euro and the Swiss franc are also clearly more expensive.
“There are many factors on the market that build a negative picture for the global economy, but also for the financial markets. The situation around the Chinese developer (Evergrande – ed.) Is still unclear, and energy prices in global markets are dizzying. also a stormy discussion on the debt limit in the United States “- we read in the morning commentary by Dom Maklerski TMS Brokers.
US debt limit
The US Congress must raise the debt limit in the near future. “Then the government will have to start borrowing power to finance the deficit and rebuild the reserves it currently uses,” explained Przemysław Kwiecień, chief economist at XTB.
The Federal Reserve Chief Jerome Powell and Treasury Secretary Janet Yellen will meet in Congress on Tuesday and Thursday. “While waiting for more information, the yield on the US debt grows to 1.53 percent in the case of 10-year treasury securities,” DM TMS Brokers pointed out.
Przemysław Kwiecień pointed out that the dollar was going up in line with higher and higher yields on US bonds. The American currency is gaining against both the euro and the zloty.
Euro, dollar, franc, pound – quotes
On Tuesday before At 12.00 euro you have to pay almost 4.62 zlotys, for the american dollar – over 3.95 zlotys, for the Swiss franc – 4.26 zlotys, and the british pound – about 5.40 zlotys.
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