Zloty without reaction to Israel's war. Dollar for less than PLN 3.70

The Israeli attack on Iran has not done much harm to the Polish złoty so far. The euro remains in spring consolidation. However, The US dollar is trading near a 4-year low.

On There is already a regular war in the Middle East . Israeli planes are bombing targets in Iran, and Tehran responds with missile fire. This situation has been going on for Friday, when Israeli aircraft attacked Iranian nuclear facilities and military. But so far financial markets have reacted very restrained.

Relative calm also reigned on the zloty market in the morning. 9:50 euro rate rose by half a grosz, reaching the level of PLN 4.2727. We are still within the range of PLN 4.20-4.30, in which the Euro-zloty pair remains beginning of April.

The event of the day on the financial markets should be the Federal Reserve's evening statement and subsequent conference call Chairman Powell's press release. No one expects the FOMC to change interest rates. But market participants will be listening carefully what Jerome Powell says. The market on 68% estimate the chances of at least a 25 basis point reduction in the funds rate feds at the September FOMC meeting.

- According to our assessment, this year's exchange rate maximums are close 1.1630 may be tested during Tuesday's session, although before a stronger investors may be held back by the importance of Wednesday's Fed meeting, while which will present the latest projections of FOMC members regarding the future level of interest rates - analysts wrote in their morning report PKO BP.

The above-mentioned maximum for this year on the euro-dollar pair was established last Thursday. We can therefore claim that on the most important currency pair in the world is still in an upward trend, which should potentially have a positive impact on the zloty.

For now, we can see the effects of changes in the "Eurodollar" pair dollar-zloty. On Tuesday morning, the American currency was quoted at 3.6978 PLN. At the end of last week the dollar cost up to PLN 3.67 and was the cheapest since June 2021.

Swiss franc cost 4.5504 zlotys and rose by 1.5 groszy. The Helvetian currency remains almost record strong against the weakening US dollar, but its The exchange rate against the euro remains at significantly lower levels than just three months ago.

KK

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