The Czech koruna opened at EUR/CZK 29.310 and started loosing together with other currencies in the region. It slid to 2-weeks low to 29.410 to the euro due to political crisis in Slovakia, which put the the Czech koruna under pressure as well. Later on, the koruna recovered and supported by long-term confidence in robust export driven growth strengthened to 29.275 at the end of European trading. events today the koruna may even more depend on the development of the investment sentiment in the region. Political uncertainty in Slovakia may keep the trading volatile during coming days, but note that the market is closed in Slovakia today. We do not expect the koruna to slid lower than 29.45.
(CSOB - Investment research)