Today's Major Market Move: Czech Koruna Weakens 4.6% vs the USD This Past Week

We talked about the weakening Hungarian Forint on Friday and today we're going to focus on another fringe EU currency, the Czech Koruna. As you could probably guess, the Koruna is in the midst of a weakening trend versus the US Dollar with a decline of 4.6% this past week. It was the third worst performing currency after the Brazilian Real and the Forint.

Click here to go to the live table.

Here's the comparison line chart of the main Czech equity index, the Prague Stock Exch Index, against the USDCZK.

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There was a disconnect in the correlation at the beginning of August when Czech equities did a cliff dive. However since then, the correlation has been pretty tight.

I've been wanting to put together a comparison chart of all of the fringe EU currencies since several of them appear to be under pressure. I've left off Belarus since they've already had their hyperinflationary event and the currency has weakened so much that it throws off the chart.

Click here to go to the live chart.

As one can see, the 3 currencies currently under the most pressure are the Zloty, the Forint and the Turkish Lira (we talked about the currency and economic issues of Turkey back in this post).