- The Polish currency rose to its most advanced level in over four months as investors leant on the idea that Poland’s central bank will hold back on cutting the country’s interest rates. The zloty jumped around half a percent against the euro, trading at 4.1590. Tuesday’s strengthening took the zloty’s rise in the last month to 1.5%, making it the best performer out of its 24 emerging market peers.
- The Canadian dollar lost the ground it made up last week against its US counterpart on Tuesday as it weakened by just under 0.5 percent. Today promises to be an interesting day for the Canadian currency with the much anticipated Interest Rate Announcement later this afternoon.
- The Australian dollar fell significantly overnight as it became clear that there would be no increase in interest rates any time soon. In fact the next move after 15 months of stability could be downwards for interest rates as the view still seems to be that the Australian dollar is overvalued.
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