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Aggressive CNB Tightening Keeps Supporting CZK

CZECHIA
  • We have seen in recent months that the aggressive tightening run by the CNB has been supporting the CZK against major crosses.
  • EURCZK broke below its key support at 24.77 this week, which was the low reached in February 2020 before the March 2020 panic. The pair is currently trading at its lowest level since September.
  • Next key support to watch on EURCZK stands at 24.28.
  • Today, the Finance Ministry is scheduled to publish the budget balance for the full year of 2021.

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