On Monday the Czech currency began at 31.890 against the euro and at 27.600 per the dollar. The koruna movement reflected euro-dollar market development due to lack of events on our domestic political scene and absence of fresh macro data. As a consequence the koruna appreciated against the greenback, but changed slightly against the euro. The rate USD/CZK closed at 27.230. It opened at 27.130 this morning and should move between 27,00 and 27,50. Per euro the koruna closed at 31.855 yesterday. It opened at 31.820 today and should stay in a range of 31.60 and 32.10. We do not expect any significant events today; the FX market will wait for inflation and unemployment data to be released tomorrow.
CSOB, Investment Research