The currencies in the Central European region started weaker today, but returened to an upward path. The Hungarian central bank raised interest rates by 50 bps instead of expected 25 bps. This kicked the forint up 1,3 % and helped also the PZL, CZK and SKK to firm. The Czech koruna compensated a part of its morning loses and closed at 28,41 CZK/EUR. No Czech news were released today, the only event of this week is the CNB monetary meeting on Thursday.
The koruna weakened quite significantly against the US dollar. The main reason is strengthening of the dollar against the major currencies. The closing rate is 22,53 CZK/USD while the dollar firms to 1,2625 USD/EUR.