The euro strengthens on Tuesday after Reuters news that the European Central Bank is considering a 50bp rate hike. The meeting will be held on Thursday. Following this, the zloty also gains. After 14 o’clock the US dollar was nearly 8 cents cheaper than on Monday.
Dom Maklerski TMS Brokers pointed out in the comment that the main currency pair EUR / USD reacted to the Reuters news and we are seeing an increase in this pair. At one point on Tuesday Euro quotations was gaining even more than 1 percent against the dollar.
“There is still a correction move on EUR / USD. Today there was a significant acceleration of the rebound of the main currency pair. Let us recall that the market slightly priced in the move by 50 basis points. It seemed very unlikely given the risk of an energy crisis” – indicated.
As added, the zloty is strengthening due to the increases in the prices of the main currency pair.
Euro, dollar, franc – quotes on July 19
Around 2:20 p.m. you had to pay PLN 4.76 for the euro.
The US dollar cost PLN 4.65. While last week you even had to pay PLN 4.85 for the American currency. This means that the dollar has fallen by 20 cents since last week’s peaks.
We also observe declines in the CHF / PLN pair. You have to pay PLN 4.80 for the Swiss franc. Last week, you had to pay as much as PLN 4.89 for the Swiss currency.
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