The Czech koruna stayed in the tight range
of EUR/CZK 31.44 – 31.50 on Friday. The
market ignored an expected first approval of
the draft 2005 state budget. The price action was negligible, like in all previous days of
the last week. Since Monday, the koruna
hovered in range of EUR/CZK 31.32 –
31.52, little weaker from its 11-weeks high.
Today, we do not see any reason why the
koruna should move either direction.
August’s retail sales are usually ignored by
all markets. Thus there is a pretty high
chance the koruna will stay in the same
ČSOB - Investment Research