The Czech koruna was locked in tight range
of 32.485 and 32.58 against the euro
yesterday. The activity was rather low as
many key players absent for bank holiday in
London. The markets ignored April’s budget
deficit which swelled to CZK 30.2 bn due to
funds paid into private savings accounts
under a state dwelling subsidy scheme. The
deficit does not differ from the deficit in the same month of the last year.
Today, no data of market significance are
due. However, the activity could be higher
as London traders will be back at desks.
Nonetheless, the koruna should hover in 32.55 zone.
ČSOB - Investment Research