The Slovak koruna took a few steps back yesterday and lost to the level of 37.60 EUR/SKK following the drop of other regional currencies. The released GDP data did not have any significant impact on the trading, as they were not far from consensus. Today, the calendar is thin, as the industrial and construction output are no market movers. The koruna is expected to continue to move in line with other regional markets. Although the level 37.50 EUR/SKK looks within reach, we do not anticipate the koruna to take positions below it permanently in the short term. We expect an uneventful session with the exchange rate likely to stay within the range of 37.50-37.75.
(CSOB - Investment research)