On Thursday the Czech currency fell from opening at EUR/CZK 31.435 to 31.600
as a late reaction to Wednesday's interest rate cut by Czech National Bank.
It appreciated up to 31.435 in the afternoon but closed at 31.510. Today the
currency pair EUR/CZK began at 31.560 and should remain in the range of
31.300 and 31.800.
The koruna weakened also against the dollar, which
profited from a lower interest rate cut. It opened at 27.400 and closed at
27.530. Today the rate USD/CZK opened at 27.600 and should move between
27.400 and 27.800. The end of the week should bring no surprise on the FX
market.
Zdenek Safka, Investment Research, CSOB