The Czech koruna recovered completely on Friday. It was firming from the real beginning of the day to close at EUR/CZK 28.30, only a heller weaker than the all-time high. The market digested CNB Board members’ comments and figured that they are no threat to the koruna. Moreover, any event in the region did not disrupt the koruna’s rider. The upcoming week is until Friday eventless, nevertheless the Minutes and the December foreign trade due on Friday might be in focus. Today the calendar is empty, the koruna may feel some downward pressure from a strong U.S. dollar. But it might not reverse the overall positive atmosphere. Therefore the unit may climb to towards the 28.00 level today. Czech koruna keeps rising.
(CSOB - Investment research)