The Czech currency corrected its previous losses vs. the euro on Thursday.
The EUR/CZK opened at 32.545 and was moving around 32.550 - 32.600 level
during morning. However, the koruna slightly strengthened in the afternoon
and closed at 32.440. The result of CNB's Bank Board meeting yesterday
(interest rates remained unchanged) did not surprise the market and had no
significant influence of the EUR/CZK exchange rate. The koruna gained also
against the dollar as it rose from the initial level of 30.000 to 29.790 at
the end of the day due to euro's strengthening vs. the dollar on the world
markets.
The koruna should not be influenced by the figures released today.
The EUR/CZK should move around current levels in the range of 32.350 -
32.550. The development on the political playground still remains the main
driving force. The koruna opened at 32.430 vs. the euro today. Vis-a-vis the
dollar, the koruna initiated at 29.760 and should stay between 29.600 -
30.000.
open high low close today (29.9.)
EUR/CZK 32.545 32.610 32.440 32.440 32.430
USD/CZK 30.000 30.080 29.780 29.790 29.760
Martin Kocura, Investment Research, CSOB