The unit plunged above the EUR/CZK 30.00 level again on overall negative wave in the region. The koruna slightly underperformed other currencies, but it only smoothed its above average gains from Friday. However negative sentiment was short-live and the koruna pared its early losses to close again on the strong side of the 30.00 level.
There is no clear direction on the market now. The unit fell into a sideways channel of 29.85-30.05. The market waits for strong enough impetus to move any direction. The koruna might stay around the 30.00 today, as the calendar is empty. EUR/CZK again above 30.00
(CSOB - Investment research)