Czech Koruna Trades At 11-day High Against US Dollar
November 06 2009 - 8:24AM
RTTF2
Extending its 4-day winning streak, the Czech koruna advanced
0.9 percent to an 11-day high of 17.2275 against the US dollar
around 7:45 am ET Friday from yesterday's close of 17.378. A move
above the 17.14 resistance may push the domestic unit to its
highest level since late September. Currently, the dollar-koruna
pair is quoted at 17.28.
The Czech koruna started edging higher following the Czech
Statistical Office report showed that the nation's trade surplus
stood at an unadjusted CZK 17.8 billion in September. This was up
from CZK 10.6 billion in August and also beat the analysts'
forecasts, who called for a trade surplus of CZK 16.5 billion. A
year ago, a surplus of CZK 10.5 billion was logged.
Exports decreased 13.9% annually to CZK 192.1 billion in
September, while imports fell 18% to CZK 174.4 billion.
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