EUR/CZK pierced resistance from Feb 6 high of CZK24.023 and showed above there, topping out at CZK24.034, just shy of the 100-DMA intersecting at CZK24.038. The rate now sits +0.239 at CZK25.015 as the Czech Koruna is the second-worst performer in the EMEA space after the Hungarian Forint. If the 100-DMA gives way, bulls would set their sights on Jan 23 high of CZK24.116.

• Regional currencies have shown some weakness as the European banking sector comes under pressure, with the WSJ reporting that the ECB has asked lenders about their exposures to Credit Suisse.
• CZGBs have advanced across the curve and last trade 9.5-15.4bp richer, while the PX index is ~1.4% worse off after plunging through its 50-DMA.