Yesterday the Czech currency opened at 31.695 against the euro. It
strengthened to 31.550 before midday, but closed at 31.650 after corrections
in the afternoon. The currency pair USD/CZK moved from 27.420 in the morning
to 27.480 when closed.
There was no fundamental reason for the Czech koruna
weakening. However, the scepticism on Central European FX markets remains
and the demand for the koruna has increased due to dividend payments abroad.
Today the rate USD/CZK opened at 27.460 and should stay in the range of
27.25 and 27.80. The rate EUR/CZK begins at 31.670 and should stay between
31.40 and 31.90.
Zdenek Safka, Investment Research, CSOB