The koruna market was quite live yesterday. However, the price action wasn’t so impressive. Limited movement is typical for these summer days. The unit had tendency to strengthen below the EUR/CZK 30.20 level in the morning, but the attempt failed. The koruna closed little changed in European trading at 30.21. Nevertheless, it lost some ground in American trading, as it touched 30.27 in the evening. The weakness should not carry on today and the koruna may open again in low twenties.
The calendar is empty today, so the koruna may keep in its current trading band EUR/CZK 30.15-30.30.
ČSOB - Investment Research