The Czech koruna moved slightly higher yesterday as the Parliament overrode a presidential veto of the new VAT law. However, the successful vote had only limited influence on the market and the currency moved up and down during the trading. The currency stayed at tight range of 32.42 - 32.54 till the late afternoon. Nevertheless, after the close of the Prague market the koruna strengthened to 32.38 zone. Today, the currency should appreciate as the market digest yesterday's vote and government euro bond issue program.
ČSOB - Investment Research