The Czech koruna ends Wednesday session weaker at 28,36 CZK/EUR. The move is quite surprising given today significant firming of other CE currencies. No important Czech news were released today. The Czech national bank made some comments about risks of the EMU entry. These are however in line with previous statements and should be neutral for the FX market.
The CZK has firmed against the US dollar as the USD falls on international markets. The USD/EUR rate reached as high as to the 1,26 level, before the Philly Fed index release. The index of business conditions was worse-than-expected, which then caused some additional USD selling.