The Czech koruna weakens today and closes at 28,29 against the euro and at 22,49 against the dollar. In the morning, Czech industrial output was released. The growth rate of 3,6 % is disappointing as the market expected +10,5 %. But, this wasn´t a reason of today koruna losses. More influential are international factors these days and the koruna went down following the whole region.
The position of Central European and emerging market currencies worsened after ECB hike last week and after Fed announcement of a rate hike this month. As the dollar continues firming, the investors leave emerging markets, which causes pressure to respektive currencies. The USD/EUR rate trades at 1,2586, the main events of the oncoming days should be the US PPI and CPI data.