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CZK: EUR/CZK Trading at Highest Since May, Focus Shifts to CNB Next Week

CZK

The stronger-than-expected US PMI figures and subsequent increase in US yields has resulted in a reversal higher for EURCZK. The cross is trading close to this morning’s highs, above the 200-DMA for the third consecutive session. A sustained break of this average could expose the 100-DMA at 25.093,

  • The koruna is lagging its CE3 peers again today, with PLNCZK and CZKHUF moderately extending the pullback from this month’s cycle lows/highs.
  • The CNB will announce its monetary policy decision next Thursday (June 27). As things stand, 7 out of 9 analysts surveyed by Bloomberg expect the central bank to slow the pace of monetary easing to 25bp, while the two dissenters expect a steady pace of 50bp.

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