No agreement between the US and Iran. How did the Polish zloty reacted?

The dollar, euro and franc in a few hours unexpectedly got cheaper by a few cents. Although initially, after the controversial decision of Donald Trump on Iran, it clearly rose. However, the situation is still unambiguous.

The break of the agreement between the US and Iran caused a lot of nervousness on the financial markets. This was particularly evident in the case of oil, of which Iran is an important producer. On Wednesday, the price of the barrel jumped to the highest level since 2014.

It was possible to have big fears about the situation of the Polish currency, which recently weakened. In fact, the first reaction to the controversial decision of President Trump was a marked increase in exchange rates of foreign currencies.

Thus, it can be seen that the first emotions among investors dropped, or at least the attitude towards the zloty slightly improved. With the rest, not only our currency is trying to make up for losses to the dollar. The euro is also going up.

Experts note that the situation is ambiguous. Iran may argue that the 2015 agreement continues to operate, as only the United States withdrew. The agreement also included China, Russia, Germany, France and the United Kingdom.

What is crucial now is what pressure the US will want to exert on those who will continue to trade with Tehran as they have done up to now. It is worth mentioning that the White House has a tool in the form of the possibility of imposing customs tariffs on its partners, which mechanism has already been tested a few weeks ago. The EU has been temporarily on the list of countries excluded from higher rates for the export of steel and aluminum to the US and theoretically it can change. Thus, theoretically, there may be a risk that the fears of trade wars will return to us on the occasion of Iran