The Czech koruna was not able to paddle against a change of atmosphere in the region and followed the zloty lower yesterday. Strengthening of the U.S. dollar against major currencies in the morning might have weighted. The unit opened at EUR/CZK 30.11 and slowly slide to 30.20 over the session. Nevertheless, the koruna bounced back at the end of the day to close off its daily low. The market is pretty quiet and the exchange rate still holds in rather tight range of 30.05-30.35. There are no significant incentives for the market just now, except of technicals. Today the calendar is empty, hence the mood in the region might be decisive. Slight recovery seems be most likely scenario.
ČSOB - Investment Research