Yesterday the Czech currency reacted neither to better then expected GDP nor
to CPI stagnation, but the rate movement corresponded to the development on
Eurodollar markets. Against the dollar the koruna strengthened from 26.760
in the morning to 26.630 in the afternoon.
Today it started at 26.680 and
should move in the range of 26.50 and 26.90. On the contrary the koruna lost
against the euro. On Monday it opened at 31.320, it moved in a narrow range
of 31.280 and 31.355 and closed at 31.340. It started at 31.320 this morning
and should remain between 31.10 and 31.50.
Zdenek Safka, Investment Research, CSOB