At he beginning of the session the gains of Polish zloty helped the koruna to attack 28.30 EUR/CZK once more. Nevertheless in the afternoon the koruna pared all of its previous gains and it was the only currency in the region, which lost during the intra-day trading. It stayed near the resistance at 28.46 at the end of the session. By that same time the market ignored the release of the February budget figures. The Czech koruna retreats. Today’s domestic eco calendar is empty again. Interestingly, the koruna has began the trading on a bad footing. The Czech currency is probably experience some profit-taking after series of huge gains. Hence for today, more losses may be seen while a next resistance stands at the EUR/CZK 28.55 level.
(CSOB - Investment research)