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Koruna Ticks Lower Along CE3 Peers

CZK

EUR/CZK posted a leg lower Tuesday as CNB's Tomas Holub drew attention to the exchange rate as a pro-inflationary risk, albeit the boundaries of a familiar trading range remained intact. The pair last deals +0.012 at 25.335, with bulls looking for a move towards Feb 15 high of 25.519. Bears seethe 25.0 figure and Jan 2 high of 24.867 as their initial targets.

  • CZGB yields are broadly higher ahead of today's auction for CZK9bn of bonds maturing in 2032, 2035 and 2037.
  • Czechia's industrial PPI fell 1.8% Y/Y, which was the first negative outturn since late 2020. Komercni banka commented that "the disinflationary trend in the Czech manufacturing sector is still evident."

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