Poland’s zloty declined while bond yields moved up in reaction to the dismissal of Prime Minister Kazimierz Marcinkiewicz. The market is expected to remain volatile, Pekao dealer Marcin Bilbin told PAP Monday morning.
“Naturally, the zloty weakened in reaction to sudden change on the post of the Prime Minister,” Bilbin said. “The zloty slid to EUR/PLN 4.08 this morning in order to regain slightly to 4.07. Bond yields moved up. It is hard to predict what will happen next. Due to holiday season there are less investors present on the market and there is not much potential for further weakening.”
According to the dealer, the market will remain volatile. “Considering general aversion of investors to risk the current situation does not make good prospects for Poland,” he said.