The Polish zloty weakened today as Poland’s current account deficit surged. The currency is expected to depreciate further.
Poland’s current account deficit almost doubled in December from a year ago as the accelerating economic growth increased consumption. BNP Paribas predicted that EUR/PLN may continue to rise, but it’s required to break through the resistance level of 3.94 to post significant gains.
USD/PLN rose from 2.8940 to 2.9222 as of 11:42 GMT, while EUR/PLN rallied from 3.9179 to 3.9363.
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