The Czech koruna advanced to a one week high versus the euro after a positive industrial report that fueled speculations that one of the most affected European economies is emerging for the hardest crisis since the end of communism in Czech Republic.
After falling for 14 straight months, industrial production rose in Czech Rep. today, adding speculations that the country is leaving the worst recession in 20 years, which could help policy makers to raise interest rates in 2010, helping the nation’s currency to advance to the highest level versus the euro in one week.
EUR/CZK traded as low as 26.30 today from 26.43 yesterday.
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