The Czech koruna was once again calm and the pair somewhat stabilized above 24.50 EUR/CZK. From a technical point of view, the Czech koruna remains in a negative territory above 55-day moving average and is potentially vulnerable to further losses. In the upcoming 14-day horizon we expect both neighboring NBP and ‘ECB hike interest rates. Putting this in contrast with rather dovish CNB, this may weigh on the koruna. We may even see once again regional carry trades financed from the Czech koruna in case of lower risk aversion on the global markets.