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Koruna Edges Lower, Looks To CNB Rate Decision Next Week

CZK

EUR/CZK has edged higher with CE3 FX space under some light pressure in the wake of yesterday's FOMC on-hold rate decision accompanied by a "higher-for-longer" message. Local headline flow has been limited today, with the CNB now in their blackout period.

  • The pair last deals +0.029 at 24.425, with bulls targeting Sep 12, 2023/Sep 29, 2022 highs of 24.659/24.700. On the flip side, bears keep an eye on the former resistance zone around the 24.3 figure, which coincides with 23.6% Fibo of the YtD upleg.
  • CZGB yield curve has shifted higher, with 3s underperforming. Local FRA contracts have ticked higher.

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