Initially, it traded slightly weaker as some king of profit taking occurred in the region. However, positive mood prevailed and the koruna gained ground continuously for the rest of the day. Even downturn of the zloty in the afternoon failed to hang the koruna. The higher-than-expected November industrial output didn’t affect the market. Positive mood in the region and expectation of strengthening of the koruna in long-run established a rising trend.
Today, the calendar is empty, but tomorrow’s current account may grabs some attention. Moreover, the ECB meeting might be an eye-catcher. Although change in rate is not likely, comments may affect even CE markets. The koruna may cautiously climb higher unless the zloty falls deeper.
(CSOB - Investment research)