The Czech koruna closed at 28,39 CZK/EUR today and returned from levels reached yesterday. The koruna ignored improved macroeconomic forecast of Czech Ministry of finance. The region didn´t show a direction to the CZK, the likely reason of today move are some doubts about tomorrow rate hike of Czech central bank. However, we still expect a 25 bps hike and this seems to be also opinion of the majority of the market.
The CZK closed at 22,53 against the dollar and firmed a bit compared to yesterday close. The rate little changed thanks to the dollar weakening against the euro. The market is awaiting Fed´s Beige book that could indicate how strong the US economy is. Today German Ifo index influenced the market only marginally. Now, the USD/EUR trades at 1,2616.