Crown reaches highest level since end of 2008
The Czech crown reached it strongest point on Thursday since November of last year, briefly trading at less than 25 CZK/EUR and 17 CZK/USD. Trading ended slightly above that mark. According to analysts the current strengthening of the Czech crown is due primarily to an optimistic mood among investors on the global markets and will likely continue for a while. At the same time, a number of economists point out that the strong crown has no basis in the domestic economic situation and they expect the exchange rates to diverge before the end of the year.