In early trading on Monday, the Czech koruna rose to a 2-week high against the dollar after a report showed that the Czech trade surplus increased more than expected in February.
A report by the Czech Statistical Office said the trade surplus stood at CZK8.69 billion in February, up from CZK3.46 billion in the previous month. Economists expected the surplus to increase to CZK5 billion. A year ago, in February, the surplus was CZK13.03 billion. In February, exports dropped 22.2% year-on-year to CZK169.4 billion, while imports fell 21.5% to CZK160.7 billion.
At about 3:55 am ET, the Czech koruna reached a 2-week high of 19.5150 against the dollar. The next upside target level for the Czech currency is seen at 19.36. At last week's close, the dollar-koruna pair was quoted at 19.6260.
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