Trading in the Czech koruna was traditionally quiet and the koruna moved in the narrow range of CZK/EUR 33.12 and 33.18 through the whole day.
EUR/USD moved somewhat higher yesterday, as the backlash of the Hamas leader Yassin killing makes the market fear a broad array of terrorist strikes as Hamas political leadership also announced attacks against US targets. US administration was quick to deny any knowledge or link to the Yassin killing.
In concrete price action, EUR/USD moved from the 1.2270-area at the start of European trading towards the 1.2380 area intraday peak, only to settle at the 1.2330 zone at the end of yesterday's trading.
This morning upward pressure again seems to be developing on the euro, as the EUR/USD pair moves to the 1.2360 zone apparently in early trading.
ČSOB Investment Research