The Slovak koruna broke through the level of EUR/SKK 34.30 in the morning and
firmed to 34.25 but soon retreated to weaker levels. Nevertheless, the correction was
not big and the unit managed to close the session only slightly above the opening
level.
As the economic calendar is empty today, the koruna is expected to remain driven by
external factors. The unit has potential for further appreciation in the days ahead; already
this morning the unit could be supported by Bernanke testimony. Nevertheless
we are aware of the fact that the central bank does not like to have the koruna close
to the level of 34.0. If the unit approaches to his area, the probability of verbal interventions
will increase.
ČSOB - Investment research