Crown slightly firms to euro, dollar today

Its development was thus different from the Hungarian forint which was falling notably today. The financial markets reacted to the news that Hungary will not gain another loan from the International Monetary Fund (IMF) and the EU, said Marketa Sichtarova of the firm Next Finance.

This was a surprise for the financial markets, she added.

"Everything Hungarian is now being sold off on the financial market," she noted.

Sitchtarova does not expect the Czech currency to react to the Hungarian case in a significant way.

"Hungary will not help the crown much but its influence will not be fundamental... For the coming week, we expect the crown rather to stagnate in a wider band," she forecast.

Sichtarova believes what happens in Hungary will have no impact at all on the euro´s rate to the US dollar.

"The euro is weakening to $1.294/EUR today but from the point of view of the last two days, it is practically stagnating in a wider interval of $1.286 to $1.300/EUR," she summed up.

Author: ČTK
www.ctk.cz