Koruna Tad Softer Despite Czechia's Positive Rating Outlook Review

EUR/CZK trades +0.021 at 25.361 amid some light weakness in CE3 FX space. A break above Feb 15 high of 25.519 would provide an encouraging signal for bulls, while bears still see Jan 2 high of 24.867 as their initial target.

• CZGB yields are higher, curve runs slightly flatter at typing. The PX Index has edged lower but recent cyclical highs remain in sight, with bulls looking for another opportunity to push the index above the psychologically significant 1,500 level.
• Fitch revised Czechia's rating outlook to stable from negative, pointing to the deficit-reducing impact of the government's fiscal consolidation package.