This is the forex quote for the Euro against the Czech Koruna. In this quote, the value of one EUR (the 'base currency') is quoted in terms of CZK (the 'counter currency'). As a small export-driven economy, the Czech Republic and by extension CZK are highly sensitive to developments that shape trends in external demand from its top trading partners. These are primarily members of the European Union (EU). Plans for the Czech Republic to adopt the Euro were halted in 2007 as the financial crisis began to engulf much of Europe. The pair may likewise find volatility in news-flow related to the Eurozone debt crisis.
by Oliver Morrison
The Czech Koruna is at its highest level against the Euro since November 2013 and could be poised to climb even further after the Czech central bank ended its currency cap.