The Czech currency was weakening against the euro yesterday from the level
of 30.110 to 30.180 during morning trading. The trading was jittery before
Thursdays' CNB Bank Board meeting, the EUR/CZK fell to 30.430 in the
afternoon and closed at 30.280. The koruna softened also vs. the dollar due
to development on euro-dollar markets. The USD/CZK opened at 29.800 and fell
to 30.100 at the end of trading.
The koruna might be influenced by good
trade deficit figure today. However, the impact of CNB meeting and threat of
hidden intervention remains. The EUR/CZK should be curbed between 30.200 -
30.500 and the USD/CZK should move on the range of 29.750 -30.200.
open high low close today (23.7.)
EUR/CZK 30.110 30.430 30.055 30.280 30.400
USD/CZK 29.800 30.180 29.720 30.100 30.360
Stepanka Kuzilkova, Investment Research, CSOB