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Trading news
22 Aug 2017
EUR/CZK expected to drift lower – Danske Bank
The Czech Koruna is seen appreciating further in the next months, according to analysts at Danske Bank.
Key Quotes
“Following the first CNB interest rate hike in August, we look for further EUR/CZK depreciation ahead, based on relative monetary policy divergence as well as strong Czech economic fundamentals”.
“Profit-taking on sizeable short EUR/CZK positions accumulated in the market will, however, prevent any rapid CZK appreciation”.
“As a reaction to the CNB move, we have slightly lowered our short-term EUR/CZK forecast profile to 26.00 in 1M, 25.90 in 3M, 25.70 in 6M and 25.50 in 12M”.