Czech crown weakest since early October on profit taking

PRAGUE: The Czech crown weakened more than half a percent against the euro on Wednesday due to profit taking before the year-end, touching its lowest level against the euro since early October.

The crown traded 0.6 percent lower at 25.950 to the euro at 1526 GMT, with dealers and analysts saying the drop was also partly due to lower liquidity and continued the weakening seen after the central bank held pat on interest rates at a meeting last week.

Analysts at Raiffeisenbank said in a note the crown could strengthen again at the start of 2018, in the run-up to the central bank's next meeting in February, when many analysts expect a further interest rate hike.