Zloty Rallies to Strongest in Four Weeks on Fed Stimulus Plan
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The Polish zloty strengthened to a four-week high as the Federal Reserve’s pledge to buy bonds until the U.S. job market improves boosted investor appetite for riskier assets.
The zloty jumped as much as 0.9 percent to 4.0489 per euro, the highest since Aug. 17 and traded at 4.0658 as of 4:16 p.m. in Warsaw. It had the second-steepest gain among more than 170 currencies tracked by Bloomberg. The cost to insure Polish debt against the risk of non-payment for five years fell 14 basis points to 109 basis points, according to credit-default swap prices compiled by Bloomberg.