The koruna strengthened against the dollar on Friday as the euro firmed
against the dollar on world markets. Czech currency broke the level of
32.000 and touched 31.995. The USD/CZK was moving around 32.050 in the late
afternoon. The EUR/CZK remained stable on Friday. The koruna firmed from
30.480 to 30.350 in the morning , however, it weakened modestly to 30.390 at
the end of trading.
The EUR/CZK opened at 30.470 today and the USD/CZK at
32.230. We expect the EUR/CZK to move in the range of 30.380 - 30.580 today
and the USD/CZK should move between 31.950 - 32.450. Neither election
result, nor tomorrows´ retail sales figure should have significant impact on
the koruna.
EUR/CZK 30.480 30.490 30.350 30.390 30.470
USD/CZK 32.260 32.310 31.995 32.050 32.230
Stepanka Kuzilkova, Investment Research, CSOB