The Czech koruna closes Monday trading stronger at 27,95 CZK/EUR, following positive regional sentiment. The CZK has firmed despite rather negativne S&P notes on the rating of the Czech republic. The CZK and CE region gains may be supported by continuing carry trades, when mainly the JPY is borrowed and sold for higher-yielding currencies.
The CZK ends at 21,77 CZK/USD, stronger compared to last week, although the dollar is firming versus the EUR to 1,2812. Now, the CZK stands near its all-time highs against both, the euro (27,87) and the dollar (21,69); if the positive mood on the CE currencies holds, these levels may be tested.