The Slovak koruna gained some ground against the euro yesterday, moving from the opening 37.72 to 37.64 EUR/SKK. There was no specific reason behind the appreciation, the unit just followed regional currencies and mainly the Czech koruna. Today, in the absence of fresh economic data releases or events, external factors are likely to dominate koruna’s intraday path. Nevertheless, we don’t expect major movements to occur. The unit should again hold the tight trading range that is already in place since the last week.
(CSOB - Investment research)