The Czech koruna reached new record highs today. The CZK/EUR rate made a new record at 28,00 and stayed very close to this level all the day. The CZK still profited from a positive sentiment on emerging currencies, but the situation changed afternoon. The US dollar started to firm sharply, when some investors began to close their short USD positions. This pushed down the zloty and the forint, the CZK has kept its gains. For the oncoming days, the koruna can test for another time to firm below the 28 level, but has now lower probability to succeed. Current rate levels are attractive for profit taking, after the CZK already firmed by 1,75 % this month.
The koruna has lost against the dollar although it got to a new all-time high 21,69 CZK/USD during the day. The closing rate is 21,89. The fall is linked to the moves on USD/EUR, where the dollar now trades stronger at 1,2770 USD/EUR.