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Koruna Regains Poise, CNB Dep Gov Revisits Familiar Tropes

CZK

EUR/CZK has shed its initial gains after topping out at CZK23.840 today. The pair last changes hands at CZK23.747, barely changed on the session, with bulls looking for another push through the 50-DMA (CZK23.769) and towards Feb 6 high (CZK24.023).

  • PLN/CZK pierced Feb 2 high of CZK5.0813 on its initial upswing but rejected resistance from the 50% retracement of the Dec 23 - Feb 15 sell-off at CZK5.0883 and staged a pullback to last deal -109 pips at CZK5.0642.
  • CNB Deputy Governor Eva Zamrazilova told Radio Zet that inflation may ease to single-digit levels in 2H202 and reiterated her view that Koruna strength is important for fighting inflation. Nothing new in her comments.

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