The koruna weakened gently to 32.84 EUR/CZK yesterday. The impulse for depreciation was both the Špidla's statement, that the koruna is too strong and continuing zloty pressure. The weakening did not last long, the koruna moved back to 32.74 EUR/CZK soon and was flat for the rest of the day fluctuating within the range 32.710-32.843. Today we expect flat trading within 32.65-35.85 EUR/CZK. The rate USD/CZK opened at 25.845 today a might stay in the range 25.50-26.00 during the day. Against the euro the koruna opened at 32.755.
CSOB Investment Research