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Koruna Holds Narrow Range, PLN/CZK Extends Pullback From Cycle Highs

CZK

EUR/CZK is back to unchanged levels and last sits at 23.769, with the koruna struggling to find fresh catalysts towards the end of the week. It showed little reaction to Czechia's better than expected current account balance, holding a tight range through the session.

  • PLN/CZK has shed 149 pips and changes hands at 5.3340, losing altitude for the third consecutive day as it keeps moving away from Jul 12 cycle high. A dip through the 50-DMA/Jun 28 low at 5.290/5.276 would signal scope for further losses.
  • The Chamber of Deputies passed the government's fiscal consolidation package, sending it committees. It is expected to be submitted to another plenary vote at the beginning of September.
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