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CNB Intervenes In FX Market To Support CZK

CZECHIA
  • The CNB mentioned in its website that it has intervened in the market to support CZK.
  • As for the rest of the CEE region, selling pressure has been intense in recent weeks amid deterioration in Russia/Ukraine conflict.
  • EURCZK rose to a high of 25.9360 n Wednesday, up from 24.50 in the end February.
  • The surge in risk-aversion has erased most of the CZK 2021 and early 2022 gains.
  • Details of the FX interventions are currently not available.

Source: Bloomberg

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