The Czech koruna continued firming against the dollar on Friday. The USD/CZK
exchange rate rose from the initial level of 27.990 to 27.790 which is its
six-year-high. The USD/CZK closed at 27.890. The koruna followed development
on the eurodollar markets.
The similar situation was also on the EUR/CZK
parity. The koruna opened at 31.400, reached the level of 31.260 during the
day and closed at 31.290. The trading was technical. Mostly foreign banks
showed increased interest in the Czech currency. There will be a lack of
fundamental facts this week. There is also another holiday to come. The
koruna will probably follow the EUR/USD development. The EUR/CZK should be
curbed in the range of 31.150 - 31.350, it opened at 31.255. Vis-a-vis the
dollar the koruna should move between 27.700 - 28.100. The USD/CZK opened at
27.860 today.
open high low close today (5.5.)
EUR/CZK 31.400 31.440 31.260 31.290 31.255
USD/CZK 27.990 28.025 27.790 27.890 27.860
Martin Kocura, Investment Research, CSOB