The euro doesn’t stand a chance against the Polish zloty

6. Aug. 2020

Despite the strength of the euro against other major currencies such as the US dollar, it, unfortunately, doesn’t stand a chance against the Polish zloty. In fact, bears have been slowly and steadily dragging the pair, and now it’s heading towards its support level. It’s believed that prices will go down to its lowest ranges in nearly five months as the Polish zloty works to recover the euro’s major gains from the beginning of the pandemic. What’s slowing down the Polish zloty now is the fears of another wave of coronavirus infections in the nation. That would further harm the economy and do more damage to the zloty. The reopening of economies in the region has benefited almost all of the currencies there, and the zloty is no exemption. One of the main factors that have affected the Polish zloty is the recent election in the country. Just recently, Poland’s top court ruled that the results of the presidential elections were valid, closing the argument for now.