The Czech koruna started virtually unchanged today, but gradually firmed during the day as far as to 28,04 CZK/EUR. US PPI came out worse than expected and lowered expectations on another Fed hike. This pushes the USD down, but helps the emerging currencies to firm. The CZK however lost by the end session, when found quite strong resistance at stronger levels. The closing was at 28,09 CZK/EUR.
The CZK firmed also against the American dollar and ended at 21,97 CZK/USD. The move follows the USD/EUR market, where the dollar looses to 1,2785 USD/EUR after today PPI data. Better-than-expected US net capital infows only slew down the USD weakening.