The Slovak koruna gave back gains
registered in previous sessions and eased to
37.50 EUR/SKK. The deterioration of the
regional market sentiment – driven primarily
by Hungarian politics – has played a key role
in the depreciation of the koruna. The lack of
domestic events and data again suggests
the dominance of regional/international
factors.
The focus will be on Fed meeting
today, with that in mind we expect sideways
trading within the range of 37.40-37.60
EUR/SKK as the subsequent comment
might determine the global sentiment.
Moreover, tensions in Hungary together with
Thai coup d´état deteriorate emerging
market sentiment and could put the koruna
under the negative pressure.
(CSOB - Investment research)