Polish Zloty Recovers From 3-day Low Versus Greenback

After touching a 3-day low of 2.9968 at about 3:55 am ET, the Polish reversed its direction versus the US dollar and hit a high of 2.9618 within half an hour in European deals on Friday. As of now, the pair is worth 2.9718, compared to yesterday's close of 2.9841.

On the economic front, Poland's registered unemployment rate fell slightly to 11.3% August from 11.4% in July, data from the Central Statistical Office showed toay. The rate was higher than the 10.8% recorded in August last year.

The Central Statistical Office also said that Polish retail sales rose at a better-than-expected pace in August. The retail sales at current prices climbed 6.6% year-on-year, faster than July's 3.9% gain. Economists were looking for a 5.3% increase. Sales grew for the fourth month in a row and the latest increase was the biggest during the period.

However, on a monthly basis, retail sales declined 1.6% in August, following a 3.2% increase in the previous month. It was the first decline in four months.

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