Double surprise from monetary authority
The Fed's concerns about the dollar's strength was the last week's main theme. In Poland the MPC surprised the economists with the deeper than expected interest rates cut. The zloty remained unexpectedly stable towards all this commotion.
(...) After the last week's rally of the dollar and the fall of EUR/USD to the two-year lows around 1.2500, corrections were awaited on Monday. The rebound did in no way change the mid-term attitude towards the 'greenback' and 100-pips strengthening can hardly be regarded as change.
Marcin Lipka, Cinkciary.pl analystPDF Download (32 kB)