On Monday the Czech currency opened at 32.670 against the single currency
and at 29.050 against the dollar. It weakened to both main currencies in the
morning. However, it revised its losses in the afternoon and even
strengthened against the greenback. The koruna closed the trading session at
28.930 against the dollar and at 32.670 against the euro.
Sentiment on the
market remains negative; the koruna is threatened by fiscal and political
problems. The rate USD/CZK opened at 29.050 this morning and should move in
a range of 28.70 and 29.30. The rate EUR/CZK began at 32.750 and should stay
between 32.50 and 32.95.
Zdenek Safka, Investment Research, CSOB