Czech Koruna Climbs To 5-day High Against US Dollar
December 01 2009 - 8:09AM
RTTF2
The Czech currency extended its Asian session gains against the
US dollar in early trading on Tuesday after the report showed that
the Czech PMI moved above 50 in November. The koruna climbed to a
5-day high of 17.2155 against the US dollar before moving on
holding pattern around 4:00 am ET.
Czech Purchasing Manager Index rose to 50.6 in November from
49.8 in October, supported by increases in both production and new
orders. A figure above 50 in the index indicates expansion.
The domestic currency has thus far appreciated by more than 3.6
percent against the greenback since last week's 24-day low of
17.8695. If the koruna ticks up further, it may challenge
resistance near the 17.20 level. The greenback-koruna pair, which
closed Monday's deals at 17.43, is presently quoted at 17.24.
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