The koruna eased at the beginning of the day and set aside calculation that it can be supported by the announcement about new Hyundai plant in Slovakia. Neither the Slovak koruna nor the forint and the zloty were not supported by this news. Some euro buy orders from abroad weakened the koruna in the afternoon trading. Rumours about new pneumatic plant in the Czech republic (later shown as false) did not help the koruna either. The koruna is too strong according to some investors and further depreciation could come. The rate EUR/CZK opened at 32.935 this morning and should fluctuate within 32.75-33.00 today. The rate USD/CZK opened at 27.005 and might fluctuate within the range 26.75-27.20 USD/CZK.
CSOB - Investment Research