Economics
Zloty Drops as Poland's Bid to Silence Court Dispute Backfires
- Polish currency falls most among emerging-market peers
- Moody's to review rating next week amid constitutional crisis
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Poland’s zloty fell the most in emerging markets and bonds declined after the finance minister confirmed he asked the country’s top court to refrain from making comments about its conflict with the government that could influence a credit review by Moody’s Investors Service.
The zloty weakened 0.3 percent against the euro to 4.4109 as of 5:40 p.m. in Warsaw after Finance Minister Pawel Szalamacha’s letter was published by the court. Stocks extended the biggest two-day drop in a month and yields on 10-year local-currency government bonds rose three basis points to 3.14 percent, the highest since early February.