The Czech koruna jumped higher yesterday
in step with other CE currencies. The unit
strengthened from EUR/CZK 30.35 to 30.25
zone in the morning. Initial drop of US dollar
likely weighted, because there was no
domestic reason for the move. Yesterday’s
government bond auction didn’t surprise
anybody and therefore it could have not
affect the FX market. Later on, the koruna
was sideways oriented.
Today the calendar is empty again thus
development abroad should be decisive.
Some slight correction is likely after
Wednesday rise. Moreover later rebound of
US dollar may again change sentiment
towards Central Europe.