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Koruna Firms Ahead Of Wednesday's CNB Rate Decision

CZK

EUR/CZK trades -0.038 at CZK23.731 as we type. Bears look for a sell-off past Mar 24 low of CZK23.580 and towards Mar 1 low of CZK23.343. Conversely, bulls eye Mar 17 high of CZK24.137 for initial resistance.

  • CZGB curve has flattened at the margin, with yields last seen -0.8bp to +5.6bp. The PX index has added ~0.6% after finding support in its 100-DMA.
  • The CNB will announce its monetary policy decision tomorrow after the recent revamp of the Bank Board line-up. It is widely expected that policymakers will keep interest rates unchanged.
  • Our full CNB preview can be accessed using this link.

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