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Zloty Jumps to Eight-Week High as German Sentiment Improves

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Dec. 11 (Bloomberg) -- The Polish zloty advanced to its strongest level in eight weeks after a report showed German investor confidence jumped this month.

The zloty appreciated as much as 0.6 percent to 4.0819 per euro, the highest level since Oct. 16, and traded at 4.0871 as of 4:06 p.m. in Warsaw. It had the second-steepest gain among 31 major currencies tracked by Bloomberg. The yield on 10-year notes rose two basis points to 3.88 percent from a record low reached yesterday.

The ZEW Center for European Economic Research in Mannheim said its index of German investor and analyst expectations climbed to 6.9 this month from minus 15.7 in November. Economists forecast a gain to minus 11.5, according to a Bloomberg News survey. Germany is Poland’s biggest trading partner.

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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