The Czech currency continued falling against the euro due to technical
influences. The EUR/CZK opened at the level of 32.300 and was moving around
this level during morning trading. However, the koruna weakened to 32.520
later in the day and closed at 32.480. The koruna was losing also against
the dollar yesterday under the influence of stronger dollar vs. the euro.
The USD/CZK exchange rate reached the level of 29.280 at the end of the
session compared to initial 29.050. No important data are released today, we
can't exclude another softening of the Czech koruna. The EUR/CZK is expected
to move in the range of 32.400 - 32.600, while it opened at 32.450.
Vis-a-vis the dollar, the koruna initiated at 29.150 and should not leave
29.000 - 29.400 brackets.
open high low close today (20.8.)
EUR/CZK 32.300 32.520 32.280 32.480 32.450
USD/CZK 29.050 29.300 29.050 29.280 29.150
Martin Kocura, Investment Research, CSOB