The koruna did not react to passage of reform

The passage in the first reading of the laws related to the public finance reform had no significant influence on the EUR/CZK. The koruna firmed modestly from the opening level of 32.150 to 32.060 at the beginning of trading. However, the Czech currency started to fall in the afternoon and closed at 32.150. The USD/CZK exchange rate initiated at 27.950 and reached the level of 27.850 during morning session. However, it returned to 28.020 at the end of the day. No significant impulses should appear on the Czech FX market today. The EUR/CZK should move in the range of 32.050 - 32.250, while it opened at 32.130. Vis-a-vis the dollar, the koruna initiated at 28.030 and should remain between 27.800 - 28.300.

open	high	low	close	today (25.7.)
EUR/CZK	32.150	32.180	32.060	32.150	32.130
USD/CZK	27.950	28.120	27.850	28.020	28.030

CSOB, Investmnet Research