Czech Koruna Climbs To 4-week High Against US Dollar
January 13 2010 - 9:53AM
RTTF2
The Czech currency that jumped to a 4-week high of 17.9325
against the US dollar in early trading held steady thereafter on
Wednesday's early New York deals.
The Czech koruna appreciated against the buck in early trading
despite a report showed that the Czech retail sales slumped to its
biggest since March 2008.
The seasonally adjusted retail sales including automotive
segment in the Czech Republic decreased 2.9% month-on-month in
November, official data showed today. On an annual basis, retail
sales fell 6.1%.
On an unadjusted basis, retail sales dropped 4.9% over the
previous year.
The Czech koruna is presently trading at 17.98, compared to
yesterday's close of 18.098. If the domestic unit ticks up further,
it may find resistance near the 17.7980 level.
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