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Reuters interview with Czech central banker knocks crown

An exclusive interview with the Czech central bank governor, one of many landed by the Reuters team in Istanbul, weakened the Czech crown. Zdenek Tuma said he would consider intervening in the currency markets to weaken the crown, or cut interest rates, to achieve the same end. The crown slipped to 25.7010 against the Euro over three days from 25.4050, while other eastern European currencies were firm to flat during that period. The Oct. 5 interview was still being cited as a major factor by forex traders. The graph shows the euro’s climb versus the crown since the interview was released.

Market Impact

The Czech crown slipped to 25.7010 against the Euro over three days from 25.4050.

Article Tags
Type: Reuters Best
Sectors: Economy & Policy
Regions: Europe / Middle East / Africa
Countries: Czech Repub
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