Following similar movements on the regional markets, the Slovak koruna continued to weaken yesterday as it lost to 37.77 already during the morning session. Later, it corrected part of its losses and finished just marginally above the opening level. For today we see the possibility of increased volatility and the high sensitivity to emerging market developments due to the absence of domestic market-moving data. If the turbulences in the region continue, there is further risk on the upside, but the level of 37.80 should hold for now. The more probable scenario is the consolidation close to current levels.
(CSOB - Investment research)