The Czech currency was falling vs. the euro all day long during technical
trading. The koruna was moving in the range 31.050 - 31.150 during morning
session and closed at the level of 31.060. The koruna also weakened against
the dollar as the euro was gaining against the dollar on the euro-dollar
markets. The USD/CZK opened at 31.060 and closed at the level of 31.760.
Producers Price Index (PPI) should not have a significant impact on the
EUR/CZK today. However, current large-scale floods might influence the
EUR/CZK in forthcoming days. The USD/CZK will follow the development on the
euro-dollar markets. We expect the EUR/CZK to move in the range of 30.950 -
31.400 today and the USD/CZK should be curbed between 31.500 - 32.100.
open hiogh low close
EUR/CZK 31.050 31.160 30.950 31.060
USD/CZK 31.900 32.050 31.640 31.760
Stepanka Kuzilkova, Investment Research, CSOB