Weak dollar boosts zloty — PKO BP forecasts EUR/PLN near 4.31

A sharp drop in the US dollar on global markets, combined with a positive reception of Poland's tax reform plans, has strengthened the zloty. Economists at PKO BP, Poland's largest bank, forecast the EUR/PLN rate falling to around 4.31 and the USD/PLN breaking its medium-term upward trend line near 3.69. The Trump administration's policies are cited as the main driver of dollar weakness.