Free Trial

PLNCZK Trades at Multi-Year High as Koruna Underperforms

CZK
The Czech koruna is the weakest performing currency in the EMEA region, despite few obvious local catalysts. EURCZK last deals within relatively close proximity to the Oct 26 high of 24.747, a break of which would place the cross at its highest level since July 2022. Elsewhere, PLNCZK is trading above the 5.7000 handle – and is currently at its highest since June 2021.
  • Last week, the CNB lowered interest rates by 25bps, beginning its monetary easing cycle. Consensus and market pricing had been leaning toward that decision, though most analysts stressed that it would be a close call between a cut and a hold. The decision was taken unanimously, which may have been a surprise to markets. Our review of that decision can be found here.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.