On Monday the Czech currency fell to 32.120 against the euro especially due to a strong depreciation of the Hungarian forint. Recently the koruna was relatively independent against other Central European currencies, but contemporary pressure is so strong that carries away even the Czech currency. If the development around the forint does not calm down the pressure will continue and the koruna might weaken again.
The rate EUR/CZK opened at 31.240 today and should stay between 32.100 and 32.500. Per dollar the koruna began at 26.950 and should remain in a range of 26.70 and 27.20.
CSOB, Investment Research