The first days of this year show that the range of 32.20 and 32.55 where the
Czech currency moves remains also in the future. We do not see any impetus
for the koruna, the euro strengthening supports the single currency also
against other currencies. This morning the koruna opened at 32.385 against
the euro and the rate USD/CZK began at 25.475 and should stay between 25.35
and 25.85. No important fundamental data are expected, the koruna may follow
the development on Eurodollar markets.
CSOB, Investment Research