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Koruna Slips, Even As PX Index Shows Above 1,400 For First Time Since Feb 2022


EUR/CZK has pulled back from session highs but continues to operate above neutral levels, last +0.042 at CZK23.766. The general technical picture remains broadly unchanged.

  • CZGB yield curve has bear steepened as the broader CE3 FI space has come under pressure. The PX index has rallied, briefly piercing the psychological 1,400 level, as it lodged new one-year highs.
  • Labour Minister Jurecka said at a press conference that the government is planning to reduce the indexation of above-average pensions and "make sure that the gap between [better off and worse off] pensioners does not open any further."

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