Bloomberg News

Polish Zloty Retreats to Weakest Since April in Holiday Trading

June 23, 2011

June 23 (Bloomberg) -- The zloty slid to its weakest versus the euro in 2 1/2 months after rising U.S. jobless claims and concern about the European financial crisis drove investors from risk while the Polish markets were closed for a state holiday.

The zloty depreciated 0.9 percent as of 3:39 p.m. in London, weakest intraday level since April 5.

The euro weakened 1.8 percent to the dollar after European Central Bank President Jean-Claude Trichet said risk signals for financial stability in the euro area are flashing “red” and the Federal Reserve cut estimates for U.S. growth. Equities worldwide extended losses after the U.S. Labor Department said applications for jobless benefits jumped 9,000 in the week ended June 18 to 429,000.

--Editors: Linda Shen, Alex Nicholson

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

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


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