Czech crown strongest since FX cap ended in April

PRAGUE: The Czech crown firmed on Monday to its strongest level against the euro since the central bank scrapped an intervention regime keeping it weak on April 6.

The crown was 0.4 percent stronger on the day at 1159 GMT, at 26.465 to the euro. It has gained 2 percent since being set free from the bank's weak crown policy that had been in place since 2013.

Gains have been much less than many had anticipated when investors placed bets worth of tens of billions of euros on a currency jump once the FX cap ended.

One dealer said on Monday the move below the 26.50 level could open up space for further gains.