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Koruna Weakens For Second Straight Day


EUR/CZK advances for the second consecutive day and last deals +0.046 at CZK23.727. On the topside, technical focus falls on Mar 17 high of CZK24.137. Meanwhile, bears keep an eye on Mar 24 low of CZK23.580 and a break here would expose Mar 1 multi-year low of CZK23.343.

  • CZGB yields last sit 1.9-5.0bp higher across the curve, while the PX index has added ~0.2% after finding support in its 100-DMA.
  • The CNB are widely expected to keep the repo rate unchanged at 7.00% on Wednesday.

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