The Czech koruna initially drop to fourweek
low (EUR/CZK 31.60) on the back of
the Polish zloty and weakening dollar on
Friday. However the koruna bounced back
around the noon after the dollar fought back
some ground. No significant event occurred
in the last day of the week. Even central
bankers paused in their speaking to the
markets. Thus, the unit closed almost unchanged.
Today the calendar is empty again. The
market may wait for Wednesday’s central
bank meeting. As in previous days, the
EUR/USD movement may spur the koruna.
Otherwise the currency may develop a
ČSOB - Investment Research