The koruna touched another maximum against the dollar due to dollar
weakening against the euro on the world markets. The USD/CZK reached the
level of 30.100 during yesterdays´ morning trading, however the koruna
firmed again in the afternoon at 30.080 and closed at 30.240. The koruna
stayed calm against the euro. The EUR/CZK moved in the range of 29.860 -
29.980.
CNB board holds a monetary session today. The market is afraid of an
intervention against the strong koruna or the rate cut. However, the
probability remains low. The CNB will certainly come up with a verbal
commentary on the strength of the koruna. We expect the EUR/CZK to move in
the range of 29.800 - 30.100, the USD/CZK should not leave the range of
30.10 -30.500.
open high low close today (27.6.)
EUR/CZK 29.920 29.980 29.860 29.940 29.960
USD/CZK 30.310 30.330 30.080 30.240 30.430
Stepanka Kuzilkova, Investment Research, CSOB