The CEE region remains strongly supported. However, economists at ING note that the Czech Korune and the Hungarian Fortin could be due for a mild correction today.

Koruna to return to 24.00 and Forint back to 396 against the Euro

“Today, we could see a slight retracement of gains in the region resulting from yesterday's correction in equity markets and the deterioration in sentiment after the new year rally in Europe.” 

“We expect the Koruna to return to 24.00 EUR/CZK and the Forint back to 396 EUR/HUF.”