The Czech currency set another seven-year high vs. the dollar due to
development on eurodollar markets. The USD/CZK opened yesterday at 26.500
and reached 26.330, the highest level since the summer of 1996. The koruna
slightly corrected its previous gains at the end of trading and closed at
26.400. Vis-a-vis the euro, the koruna spent all day long in the tiny range
of 31.350 - 31.430 and closed at 31.380.
No important data are released
today. The koruna will follow eurodollar markets development again. We
expect the EUR/CZK to move between 31.300 - 31.450 brackets today. It opened
at 31.380. Against the dollar, the koruna should remain in the range of
26.300 - 26.700 and opened at 26.550.
open high low close today (28.5.)
EUR/CZK 31.430 31.430 31.350 31.380 31.380
USD/CZK 26.500 26.500 26.330 26.440 26.550
Martin Kocura, Investment Research, CSOB