The Czech currency reached its seven-year high vs. the dollar yesterday as the koruna firmed to 26.170 level compared to the initial level of 26.180 due to eurodollar markets development. On the other hand, the EUR/CZK ignored better-than-expected GDP and fell slightly from the opening level of 32.020 to 32.180. However, it closed stronger at 32.125. Construction output figure is released today and should not have a significant impact on the koruna.
The EUR/CZK should move in the range of 32.000 - 32.200, as it opened at 32.105 today. Vis-a-vis the dollar, the koruna initiated at the level of 26.395 and should not leave 26.100 - 26.500 brackets.
open high low close today (10.12.)
EUR/CZK 32.020 32.180 32.020 32.125 32.105
USD/CZK 26.180 26.300 26.170 26.300 26.395
CSOB, Investment Research