The Czech koruna bounced back inside its
current trading band (EUR/CZK 30.15-35)
yesterday. There was no domestic event
important for traders. The market remains
thin, as relax summer mood drives it.
Deputy finance minister Prouza appealed to
the government to set a fix date of the euro
adoption. It would be easier for the Ministry
to provide fiscal reforms if it would know
whether the Czech Republic joints EMU in
2009 or 2010.
Today the calendar is empty, hence the
koruna might be again range-bound.
(CSOB - Investment research)