The Czech koruna fell against the euro right in the beginning of yesterday's
trading due to some purchases of the euro and also due to continuing
nervousness on the political scene. The EUR/CZK opened at 32.460, the koruna
broke the level of 32.600 later and touched 32.615. The koruna closed
modestly firmer at the end of the day at 32.545. Vis-a-vis the dollar, the
koruna firstly slipped from the initial level of 29.890 to 30.000, however,
corrected its previous losses subsequently and closed at 29.880.
Board is not expected to change current interest rate level (2.00%) on its
monetary meeting today. The koruna will hardly find some support. The
EUR/CZK opened at 32.545 and should not leave 32.450 -32.650 brackets.
Against the dollar, the koruna initiated at 30.000 and should move in the
range of 29.700 - 30.300.
open high low close today (28.8.)
EUR/CZK 32.460 32.615 32.460 32.545 32.545
USD/CZK 29.890 30.000 29.750 29.880 30.000
Martin Kocura, Investment Research, CSOB