EUR/CZK trading was choppy due to foreign players changing direction a few
times. It touched even the level of 32.120, i.e. the level where the koruna
stayed last January. At the end the koruna appreciated from 32.025 in the
morning to 32.000 when it closed.
Today it opened at 31.965 and should move
in the range of 31.850 and 32.100. The Czech currency does not react to
Czech market but depends more on the EUR/USD development. Against USD the
koruna opened at 29.510 and closed at 29.690. Today it started being traded
at 29.670 and should remain between 29.550 and 29.900.
Zdenek Safka, Investment Research, CSOB