The Czech koruna slightly strengthened yesterday while it was actively traded and fluctuated in the range between 32.820 and 32.975 for one euro. The boundary of EUR/CZK 33.00 withstood and so the markets started testing the 32.85 level. The strengthening of the koruna can be connected with today's ECB meeting and possible decreasing of rates in the euro zone. The reduction of rates would be apparently an impulse that would back up the koruna and increase yesterday's profits. If the ECB leaves the rates unchanged, the koruna can experience profit taking.
ČSOB - Investment Research