The Czech currency continued strengthening against the dollar on Friday
influenced by eurodollar markets development. The USD/CZK opened at 26.830
level, touched 26.590 during the day and closed at 26.700. Vis-a-vis the
euro, the koruna firmed modestly at the beginning of trading from 31.350 to
31.250. However, the trend reversed later and the koruna fell to 31.490. The
EUR/CZK exchange rate closed at 31.445.
Trade deficit figure is released
today. It can influence the EUR/CZK only in case of significant difference
from the expectation. The EUR/CZK should move in the range of 31.350 -
31.550 today while it opened at 31.440. Against the dollar the koruna should
remain between 26.400 - 26.800 and opened at 26.620.
open high low close today (26.5.)
EUR/CZK 31.350 31.490 31.325 31.445 31.440
USD/CZK 26.830 26.830 26.590 26.700 26.620
Martin Kocura, Investment Research, CSOB