The Czech koruna shot up yesterday.
Firstly, the unit rose on pretty low May’s
foreign trade deficit, thus the koruna traded
at 31.60 zone till the noon. Low CZK 940 m
deficit came after high CZK 10.8 bn gap in
April. It is self-evident that a lot of imports
were shifted from May to April due to EU
accession. Trade might return to usual
development in the months to come.
Moreover, MP Marian Bielesz said yesterday
afternoon that he was thinking about to quit
the Parliament. Bielesz is the former
member of the coalition party Freedom
union and former supporter of the
government. Now, he refuses to ok Gross’s
government. If he leaves the Parliament, a
stalemate in the lower house will be broken
because a loyal supporter of the coalition will
replace him. Hence the koruna
strengthening continued and the unit closed at 31.40 zone.
ČSOB - Investment Research