However, it quickly moved into positive territory, when it joined the forint and the Slovak koruna on their way higher. The market ignored the May current account, which posted a CZK 3.3 bn deficit. High dividend outflow pushed current account into a deficit, while trade balance remains in surplus. Despite the figure the koruna closed stronger at 29.90. A little slide of the EUR/USD pair in the afternoon helped, too.
Today, positive atmosphere may continue, but room for further gains is rather small. Development of EUR/USD pair might be important.
(CSOB - Investment research)