The activity was low due to holiday in many of European countries. The main driver of negative sentiment was the strong US dollar, which rose to a new 7-month high over last two days. There was no domestic impetus. The koruna touched a 2-week low at EUR/CZK 30.19, but closed little stronger at the EUR/CZK 30.15 zone. Today, the March retail sales and current account are due. The first indicator may not affect the market, but the current account may improve the sentiment, as we expect it to be balanced. The koruna may also find some support since the US dollar lost some gains yesterday afternoon.
(CSOB - Investment research)