Zloty Rebounds as Polish GDP Beats Expectations

Poland’s gross domestic product grew above expectations, probably contributing to the rally of the Polish zloty against the US dollar, though currencies of other Eastern European nations gained as well despite weaker-than-expected economic growth.

Polish GDP demonstrated solid 2.7% growth in the last quarter of 2016. The increase exceeded forecasts, allowing the zloty to rebound after the earlier decline. With that said, economies of the Czech Republic and Hungary grew less than was expected, but their respective currencies gained as well, though not as much as the currency of Poland.

USD/PLN fell 0.24% to 4.0571 as of 14:18 GMT today.

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