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Koruna Oscillates Around Unchanged Levels Ahead Of CNB Rate Decision

CZK

EUR/CZK is little changed at typing and last operates -0.003 at CZK23.626 with all eyes on the local central bank today. From a technical point of view, a sell-off past Mar 24 low of CZK23.580 would allow bears to take aim at the multi-year low printed on Mar 1 at CZK23.343. On the topside, bulls look for a clearance of Mar 17 high of CZK24.137.

  • The CNB will announce its monetary policy decision at 13:30BST/14:30CEST, with a press conference coming up at 14:45BST/15:45CEST. The central bank is widely expected to keep interest rates unchanged today, but the market keeps testing its determination to keep rates higher for a prolonged period of time.
  • CZGBs trade mixed around neutral levels at typing, while the PX index has added ~1.3%.

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