Crown dips to dollar, euro despite regional growth

To the euro, the crown slid to Kc28.94 after it found resistance at Kc28.90, said Patria Online analyst Tomas Vlk.

"Even the growing region did not help the crown to bigger profits. The crown has no reason to strengthen now. It would need a strong stimulus to beat the all-time high," said Vlk.

The dollar today corrected its losses from the past week, said Volksbank analyst Vladimir Pikora.

Backed by statistics suggesting US economic growth on low inflationary pressures, the dollar firmed to $1.189 per euro from this morning's $1.198.

"It has returned to where it was last Wednesday," said Pikora.

"The crown's loss to the dollar is good news for exporters to dollar territories, but worse news for tourists," he added.

The crown has been trading at Kc28.90-29.15 to the euro since the beginning of December. The room for further gains is limited for the rest of the year, said ING Wholesale Banking dealer Josef Jericha.

Trading is calm before Christmas and investor numbers have been falling, but analysts have said this increased the risk that a single speculation could set the crown's rate in motion.