The Czech currency fell against the euro from 30.360 to the level of 30.550
during morning session, however, it rebounded again later and the EUR/CZK
closed at 30.470. The trading was technical, the CNB was not present at the
market. The koruna remained in the range of 30.750 - 30.980 vs. the dollar
all day. The USD/CZK closed at 30.850. We expect another calm day for the
EUR/CZK today, there are no important data to be released, the market will
watch CNB activity. The EUR/CZK should stay between 30.350 - 30.650. The
USD/CZK might follow euro-dollar markets and should move in the range of
30.600 - 31.100.
open high low close today (5.8.)
EUR/CZK 30.360 30.550 30.360 30.470 30.500
USD/CZK 30.800 30.980 30.750 30.850 30.990
Martin Kocura, CSOB Investment Research