The past week was extremely calm on the currency markets. All this is due to quite a few not very significant macroeconomic reports and reports on the economic and political situation of the world’s largest economies. Due to this fact, the volatility of popular currencies was rather low last week. How does the Polish zloty look against the background of the euro, Swiss franc, pound and US dollar?
Pound rate the biggest loser of the week
Considering the volatility throughout the week, we will notice that the strongest currency of the G8 group was the Swiss franc, which strengthened by 0.47%. One week also includes the euro, the exchange rate of which has risen by 0.43% over recent days. On the red side of this statement, the Canadian dollar exchange rate, which fell by 0.68%, deserves special attention.
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Euro exchange rate the biggest win of the week
In relation to the Polish zloty, the euro has gained the most over the past week, which rose by just over 0.5 groszy. The week cannot be counted as successful if the pound exchange rate, which lost 2 grosze against the Polish zloty.
Forex exchange rates on Sunday, June 21, 2020
| Currency pair | Symbol | Exchange rate | update date |
|---|---|---|---|
| Dollar exchange rate | USDPLN | 3.9829 PLN | 28.06.2020, 9:20 |
| Course euro | EURPLN | PLN 4.4691 | 28.06.2020, 9:20 |
| Pound rate | GBPPLN | 4.9135 PLN | 28.06.2020, 9:20 |
| Franc exchange rate | CHFPLN | 4.2035 PLN | 28.06.2020, 9:20 |
Course euro slumped at the beginning of last week by more than 3 worse. Already on Tuesday, however, there was a demand response, as a result of which the euro exchange rate increased by almost PLN 0.04, thanks to which throughout the whole week the single currency went up by just over PLN 0.50.
This means that from June 3 this year. the euro exchange rate has already increased by almost PLN 0.10 and if this trend continues, it could even reach PLN 4,5150 in the near future. This is where the last defeated support (now resistance) is.
Swiss franc exchange rate increased by a symbolic 0.2 grosz over the past week. However, if one omitted the Monday’s decline, the range of increases observed since Tuesday was over PLN 0.06. This means that from June 3 this year. the franc exchange rate has already risen by more than PLN 0.15 and if this trend continues, it could even reach PLN 4.2450 in the near future. This is where the last defeated support (now resistance) is.
Pound rate has been moving in a horizontal trend for a month. Over the past week it has fallen by nearly 2 grosze. It is worth noting that throughout the week GBP fluctuated around technical support in the amount of PLN 4.9120, which is the lower limit of consolidation. If only this support were defeated, the pound exchange rate could eventually fall even to PLN 4.7850.
The dollar exchange rate is still below PLN 4
Dollar exchange rate slumped at the beginning of last week by more than 8 grosze. However, already on Tuesday, there was a demand response, thanks to which over the next days USD increased by almost 7 groszy. Due to this fact, during the whole week the dollar exchange rate dropped by just over PLN 0.01. If this trend continues, the dollar exchange rate could rise even above PLN 4, namely PLN 4.02.
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