French presidential election could weaken Polish currency: economist
PR dla Zagranicy
The upcoming presidential election in France may weaken the Polish złoty, according to Jarosław Janecki, chief economist at Societe Generale.
Janecki said that when financial markets are uncertain, investors sell off emerging-market currencies, including the Polish złoty.
Recent polls ahead of Sunday’s first round of the French presidential elections show that centrist candidate Emmanuel Macron is slightly ahead of right-wing Marie Le Pen.
However, analysts say it is likely that there will be no clear winner in the first round, leaving the top two candidates to face off in a second election round on 7 May.
Janecki said that following a second round of elections in France, “the situation will ease slightly”, and the euro may weaken.
He added that there are other factors which could “cause uncertainty” this year.
These include the elections in the UK and Germany, and the extent of fiscal-policy changes implemented by US President Donald Trump. (rg/pk)