The Czech koruna began today trading in the same style as yesterday: calm, slow firming. But, a turn came after warning that S&P may cut the Czech republic rating outlook if fiscal gap widens above 4-5 % of GDP. Together with the factor of the zloty weakening and firming of the dollar, this brought losses to the CZK, which now trades at 28,23 against the euro.
The koruna looses against the US dollar, too. The USD extended its today gains helped by revision of the US 2Q labor costs. The costs growth in 2Q was revised to 5 %, indicating persistent inflation pressures and possible further tightening of monetary policy in the US. The USD now firms to 1,2790 USD/EUR and 22,08 CZK/USD.