The Czech currency was losing vs. the euro since the beginning of trading
and fell slightly from 30.895 to the level of 30.990. The EUR/CZK closed at
30.925. The main reason for current softening of the koruna is the CNB's
Bank Board meeting which is going to be held tomorrow. The CNB will discuss
a new monetary policy settings and it is expected to reduce interest rates.
Against the dollar, the koruna weakened during the morning session from
31.410 to 31.530, however it returned back to 31.380 at the end of the day
as the dollar fell vs. the euro on world markets. The market could be
nervous today as the CNB meeting is getting closer. The EUR/CZK should move
between 30.850 - 31.050 today and the USD/CZK should move in the range of
31.300 - 31.700. The EUR/CZK opened at 30.955 and the USD/CZK at 31.490
today.
open high low close today (30.10.)
EUR/CZK 31.895 31.990 30.855 30.925 30.955
USD/CZK 31.410 31.530 31.340 31.380 31.490
Stepanka Kuzilkova, Investment Research, CSOB