In spite of spring being quite eventful, 2014 was exceptionally calm for the zloty - volatility was at its lowest in 10 years. It got back in December, when the Polish currency became a victim of speculations.
The past year has been a period of stabilization for the Polish curreny. The zloty resisted the commotion which was a result of the economic crisis in Ukraine, which eventually would become the war in the East of the country. This factor was the main source of the aversion towards the bonds from Central and Eastern Europe.
Piotr Lonczak, Cinkciarz.pl analyst