FX Strategy: Prepare For A Lifting Of The EUR/CZK Floor

The Czech National Bank (CNB) plans to exit its exchange rate floor to the euro in the second half of 2017, due to increasing inflationary pressures in the economy.

Following an initial undershooting in EUR/CZK, we do not expect a sustained large-scale appreciation of the CZK, as we do not expect the CNB to allow such a move after the exit.

Our EUR/CZK forecast is 27.0 in 1-6M and 25.5 in 12M (previously 27.1).

To read the entire report Please click on the pdf File Below

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