Central European Daily

On Wednesday, the Czech koruna and the zloty weakened while the forint barely moved due to a national holiday in Hungary. Regarding the koruna, a recent presentation of the CNB governor Singer likely played a negative role, despite the fact that it provided little new information and mostly reiterated the well-known truth that probability of interventions remained high. In our view, Mr. Singer ranks among CNB Board members voting in favour of interventions. In the course of yesterday, the koruna weakened (in a relatively high-volume trading) up to its one-month low above EUR/CZK 25.80. Meanwhile, the Polish zloty fell by about 0.5 percent against the euro though, unlike with the koruna, volume traded was rather thin.