The koruna extended its strengthening from the previous week. On Friday it got below the 28.00 line against the euro. Despite some correction the Czech currency has kept a great part of its recent gains. More supportive comments and information came out during the week. CNB governor Z.Tůma said the currency weakness was excessive. It might put a stop to interest rates cutting and possibly bring a rate hike. Vice governor M.Singer has already mentioned a potential hike last week. Another CNB representative, P.Řežábek, said that the koruna weakness was not based on fundamentals and therefore a correction of the losses should come before the next CNB meeting......click HERE to find the whole analysis