The Czech koruna followed suit and slightly strengthen in first hours of yesterday’s session. It opened at EUR/CZK 30.20 and touched 30.15 in the morning. Nevertheless, sentiment changed in the afternoon and the unit bounced back. A slide intensified in last hours of European trading and the koruna closed little weaker at 30.24. There was no domestic event behind the price action, traders just looked at Polish market. Yesterday’s trade proved the market is dormant and the koruna hovered in rather tight range 30.10-30.30. Today the calendar is empty hence development of the zloty might be decisive. On the other hand, the koruna should not break out of the current trading range.
ČSOB - Investment Research