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Koruna Lodges Gains As CEE Currencies Advance

CZK

EUR/CZK remains heavy, losing altitude for the fifth day in a row. The pair last deals -0.029 at CZK23.443, with bears looking to test key support from Mar 1 multi-year low of CZK23.343. Bulls set their sights on Mar 28 high of CZK23.820 and a break here would bring Mar 17 high of CZK24.137 into play.

  • CZGB yields have edged higher, in line with regional trend, and last sit +3.7-4.9bp. The PX index is little changed, struggling to pierce its 50-DMA, which previously capped gains on Mar 21.
  • Czechia's S&P Global M'fing PMI stayed at 44.3 in March, missing the median estimate in a Bloomberg poll (44.9) and marking the tenth consecutive month of contraction.

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