The Czech koruna retreated on Friday, as traders decided to book their profits from previous days. The unit plunged to EUR/CZK 29.95, while it opened at the 29.85 zone. There was no domestic event, which could have moved the market. Slight regional sell-off was crucial clue for traders. Today, the calendar is empty, hence overall sentiment towards the region might drive the koruna. Environment remains more or less positive, thus the unit may stay within current band of 29.80-30.00. Furthermore, the koruna might erase some Friday’s losses.
(CSOB - Investment research)