Yesterday the Czech currency began at 31.950 against the euro and at 27.860 against the dollar. It was keeping the initial EUR/CZK rate for most of the trading session but buy orders for euro from abroad pushed the koruna lower to 32.025 in the afternoon. Against the dollar the koruna strengthened to 27.820.
This morning the rate EUR/CZK opened at 32.035 and should move in a range of 31.80 and 32.30. Against the greenback the koruna began at 27.670 on Wednesday morning and should stay between 27.50 and 27.90. Positive figures of the Czech balance of payments released today should strengthen the koruna, even when it is rather resistant to fundamental data.
CSOB, Investment Research