The koruna gained against the dollar influenced by euro-dollar markets as
the dollar fell beyond the parity with the euro. The USD/CZK reached the
level of 29.600 from 29.500 in the beginning of trading, however, the koruna
strengthened late yesterday to 29.150 and closed at the level of 29.200. The
koruna remained calm vs. the euro. It softened slightly in the early morning
trading from 29.360 to 29.490 and returned back to the level of 29.330 in
the end.
We expect the trading to be technical today and the EUR/CZK should
be curbed between 29.250 - 29.500. The USD/CZK might be influenced by the
development of euro-dollar markets again. In case of further dollar
weakening against the euro, the koruna could gain again vs. the dollar. The
USD/CZK should move in the range of 29.000 - 29.450. The EUR/CZK opened at
29.350 today and the USD/CZK at 29.170.
open high low close today (16.7.)
EUR/CZK 29.360 29.490 29.310 29.330 29.350
USD/CZK 29.500 29.625 29.150 29.150 29.170
Stepanka Kuzilkova, Investment Research, CSOB