The Czech koruna inched slightly up
yesterday. Initially the unit hovered around
the EUR/CZK 31.54 level, later on the
koruna marched higher and touched
EUR/CZK 31.48. Nevertheless, the market
was pretty quiet and waited for Wednesday’s
foreign trade data. The release may trigger
more profound strengthening of the koruna,
because the trade should post encouraging result for the August.
Today, traders may again test stronger
koruna, but we see only limited room for koruna movement.
ČSOB - Investment Research