The Slovak koruna had a quiet start of the session as it held stable close to the level of 37.40. But gradually the negative sentiment from Poland prevailed on the market and the unit lost through the level of 37.50. Today, the economic calendar is empty and so the unit will remain under the influence of the Polish currency. Although the weakening zloty could intensify the pressure on the koruna, we do not expect it to take positions weaker than 37.70 in the short-term. This level proved to be a solid resistance in recent past, when all regional currencies went down. It also seems that the koruna no longer reacts so considerably to the zloty softening.
ČSOB Investment Research