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FX Reserves Fall To 142.4bn in August, Down Over 30bn USD since March

CZECHIA
  • *CZECH CENTRAL BANK SOLD $10.16B EQUIVALENT OF RESERVES IN JULY
  • *CZECH AUG. INTERNATIONAL RESERVES FALL TO $142.38B (bbg)
  • Czech reserves have now fallen by over 30bn USD since their March all-time high as CNB board has been constantly intervening in the market to protect the domestic currency.
  • EURCZK has been consolidating lower this morning after finding resistance at its 100DMA earlier.
    • ST support to watch on the downside stands at 24.50.
    • On the topside, resistance to watch above 24.6420 (100DMA) stands at 24.6910 (200DMA).

Source: Bloomberg/MNI

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