It strengthened up
to 31.415 after the foreign trade data were published. Later on the positive
sentiment changed and the koruna returned to 31.480. The Czech currency was
influenced by the development on neighbourhood's markets, where both the
Slovak koruna and the zloty lost.
We do not expect any surprising
information today, the trading should be calm. The rate EUR/CZK began at
31,500 and should remain in the range of 31.400 and 31.600 today. On Monday
the koruna weakened against the dollar due to movements on Eurodollar
markets. The rate USD/CZK opened at 27.230, the day's end marked the rate at
27.310. Today it opened at 27.290 and should stay between 27.00 and 27.50.
Zdenek Safka, Investment Research, CSOB