The Czech currency firmed vs. the euro although no important impulses
appeared on the market and technical factors prevailed. The EUR/CZK opened
at 31.680 level yesterday and the koruna firmed to 31.525 during morning
trading. The EUR/CZK closed at 31.580. Against the dollar, the koruna rose
from its opening level of 29.300 to 29.150, however, closed at 29.360. No
important macroeconomic data are released today. CNB's Bank Board meeting is
scheduled for tomorrow, interest rates are expected to remain at current
levels. The EUR/CZK should be curbed between 31.430 - 31.630 and the USD/CZK
should move between 29.100 - 29.500 brackets. The koruna opened at 31.580
vs. the euro and at 29.360 against the dollar today.
open high low close today (26.2.)
EUR/CZK 31.680 31.680 31.525 31.580 31.580
USD/CZK 29.300 29.400 29.150 29.360 29.360
(CSOB investment research)