Bloomberg News

Czech Koruna Target Cut at Commerzbank on Europe Crisis Concern

November 17, 2011

Nov. 17 (Bloomberg) -- Commerzbank AG lowered its prediction for the Czech koruna on concern Europe’s debt crisis will curbs investor appetite for risk while demand wanes for Czech exports, according to Commerzbank AG.

Commerzbank cut its forecast for the koruna to 25 per euro in December, from 24.7, Carolin Hecht, a Frankfurt-based strategist, wrote in a research report today.

The Czech currency weakened 0.3 percent to 25.7 by 12:54 p.m. in London. Czech markets are closed for a public holiday.

--Editors: Stephen Kirkland, Ash Kumar

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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