The Czech koruna was pretty flat yesterday, as the unit stayed within the EUR/CZK 29.25-29.30 range. There was no fresh incentive for the market.
Today the quiet atmosphere may prevail again. A 3-Year bond tender isn’t usually a market moving event, therefore the koruna may hover within the 29.20-29.35 range. Traders might be cautious ahead tomorrow’s CNB meeting. Nevertheless, the market doesn’t expect any action, thus the event might be neutral for the koruna.
(CSOB - investment research)