Czech Koruna At 1-1/2 Month High Against US Dollar
09 Noviembre 2009 - 7:18AM
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The Czech koruna stabilized after hitting a fresh 1-1/2 month
high against the US dollar on Monday following the Czech
Statistical Office announced that the nation's consumer price index
declined for the first time since August 2003.
The CPI dropped 0.2% year-on-year in October, after a flat
reading in the previous month. Economists expected a decline of
0.1%.
On a monthly basis, the CPI decreased 0.2% in October, compared
with a 0.4% fall in the previous month. Economists were looking for
a decrease of 0.1%.
At the same time, the unemployment rate in the Czech Republic
decreased slightly to 8.5% in October from 8.6% in September, the
Ministry of Labor and Social Affairs reported today. Economists had
expected the unemployment rate to remain unchanged at 8.6%.
The koruna that closed last week's trading at 17.334 against the
greenback advanced 1.7 percent to 17.043 around 3:00 am ET. This
set the highest mark for the domestic unit since September 24. The
dollar-koruna pair then moved on holding pattern and is currently
quoted at 17.10. A rise above the 16.896 resistance may push the
domestic unit to its highest level in more than 13 months.
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