Czech crown hits 25.7 vs euro, strongest since before intervention regime

PRAGUE: The Czech crown rose further against the euro on Wednesday, extending gains seen this month on expectations the central bank will continue to hike interest rates when it meets in November.

The crown gained 0.3 percent to break past the 25.700 per euro level in afternoon trade, touching levels last seen before the central bank launched an intervention regime in 2013 to weaken the currency.

With that policy abandoned in April, the bank became the first in this cycle in the European Union to raise interest rates when it tightened policy in August. Markets widely believe a second rate hike will come next month.