PRAGUE, Sept 7 (Reuters) - The Czech crown touched new highs
against the dollar on Friday after the greenback slumped after
worse-than-expected...
...job data from the United States.
The Czech currency jumped to as strong as 19.994/025 to the
dollar in afternoon trading, from 20.14 late on Thursday,
according to Reuters data. It later slipped back to 20.033/059.
It was the first time the crown was quoted below the 20.00
level to the dollar, and firmer from the previous high of 20.104
set on Thursday.
The crown recovered from an earlier drift to 27.65 to the
euro , its main reference currency, to stand at
27.615 at 1402 GMT, from 27.61 late on Thursday.
The currency showed no reaction to data showing 6.0 percent
second quarter gross domestic product growth.
The result was exactly in line with expectations and
confirmed the outlook for interest rate tightening in the coming
months, despite the turmoil on global markets.
Komercni Banka analyst Jiri Skop said the focus was moving
to a series of data due next week, starting with inflation,
unemployment, industrial and construction output on Monday.
"In total, the expected inflation data should temporarily
cool inflation fears, which should be reflected in a temporary
dip on the short end of the yield curve," he said in a report.
The market expects 0.3 percent monthly and 2.4 percent
year-on-year consumer price growth in August, according to a
Reuters poll.