The first session of the year was slightly negative for the zloty

The Polish zloty kicked the week off on a slightly negative note with market activity on the downside with key foreign players still on leave and much weaker incentive of the Ministry of Finance to play the “appreciation game” visible in the last months of 05. Additionally strengthening of the American dollar caused some withdrawal of funds from countries of the region. The market opened at relatively strong levels of 3.9460 EUR/PLN and 3.2500 USD/PLN and by the end of the session the EUR/PLN lost nearly 1% of its value. With empty calendar of economic releases the Polish zloty will look for the inspiration from the Eurodollar movements and domestic politics.