Yesterday the Czech currency opened at 31.525 against the Euro, but the
interest was weak on the market. It lost and reached the level of 31.600
after midday. Later on it rebounded and closed at 31.575. Today the rate
EUR/CZK began at 31.590 and should move in the range of 31.40 and 31.80.
The
rate USD/CZK followed a similar development on Monday. It started at 27.580,
weakened to 27.630 and closed at 27.500 due to movements on Eurodollar
markets. On Tuesday morning the rate USD/CZK started at 27.400 and should
stay between 27.20 and 27.60. We do not expect any important data today;
however the movement of other Central European currencies might influence
the koruna.
Zdenek Safka, Investment Research, CSOB