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CZK: Rate Pierces 200-DMA For First Time Since Late Dec


PLN/CZK advances for the third consecutive session, piercing its 200-DMA (CZK5.1228) which has been intact since late December. The rate last operates +71 pips at CZK5.1234 and topside focus falls on Mar 15 high of CZK5.1319. A clearance of that level would suggest that broader bullish momentum is building.

  • The CNB confirmed that all seven Bank Board members will participate in the monetary policy meeting next week. EUR/CZK 1-week implied volatility has now unwound most of its earlier upswing.
  • In Poland, the unemployment rate fell by the expected 0.1pp to 5.4% in March, indicating that the local jobs market remains tight.

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