The rather weak trade was sideways oriented, as the koruna kept in the range of 30.36-30.47. That’s apparent the koruna and other regional currencies decoupled from the EUR/USD slide. Contrary, the Euro-constitution crisis brings some positive sentiment on the FX market. Only the weak Polish GDP impedes region in upswing. The market ignored all domestic releases.
Today, the domestic calendar is empty hence sideways trading might prevail. Dutch NO may influence the market positively, as the euro slid to a new 8-month low against the dollar.
(CSOB - Investment research)