The Czech currency was losing against the euro all day long yesterday and closed at the level of 31.850 in comparison to the opening level of 31.620. Investors took their profits as the political situation has calmed down, the koruna was also influenced by eurodollar markets development. The world markets had also the most important impact on the USD/CZK exchange rate. The koruna firstly fell vs. The dollar from the initial level of 27.610 to 27.845. However, the trend reversed in the afternoon and the koruna rose to 27.530 at the end of the session in reaction to robust weakening of the dollar against the euro. The USD/CZK should also track the EUR/USD development today. The USD/CZK should move in the range of 27.100 - 27.600, as it opened at 27.390. Vis-a-vis the euro, the koruna should not leave 31.750 - 31.950 brackets today. The EUR/CZK initiated at 31.840.
open high low close today (30.9.)
EUR/CZK 31.620 31.850 31.611 31.850 31.840
USD/CZK 27.610 27.845 27.530 27.530 27.390
CSOB, Investment Research