The Czech koruna inched off its two-week lows yesterday. Initially, it touched EUR/CZK 29.33, but later on, a firming zloty pushed the koruna into a positive territory. The negative influence of the Slovak political row, which deteriorated market atmosphere in previous days, is overdone. However, the market was rather quiet. Sideways trading within the 29.10-29.35 range is still actual. Nevertheless, we put the risk the koruna will break through to stronger levels after the Polish election scheduled for next weekend. The koruna closed at 29.15.
(CSOB - Investment research)