The Czech currency firmed slightly against the euro during yesterday's
session. The EUR/CZK opened at 31.520 and right before the CNB's rate
decision touched the level of 31.470. The koruna fell vs. the euro to 31.560
for a short while as the 25bps rate cut was announced. The EUR/CZK returned
back later and closed at 31.440.
Vis-a-vis the dollar, the koruna also
gained as the dollar fell against the euro on the world markets. The USD/CZK
opened at 27.360 and reached the 27.180 level at the end of trading. The
koruna should not leave 31.350 - 31.550 brackets today, while it initiated
at 31.435. The USD/CZK opened at 27.400 and should move between 27.000 -
27.500.
The Czech national bank cut its reporate by 25bps to 2.25% yesterday.
open high low close today (26.6.)
EUR/CZK 31.520 31.560 31.440 31.440 31.435
USD/CZK 27.360 27.390 27.170 27.180 27.400
Martin Kocura, Investment Research, CSOB