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Czech crown pulls back from 7-year high

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The Czech crown EURCZK= retreated from a seven-year high in early trade on Thursday, as it approached a new resistance level after a blistering start to the year. The crown has been the region’s best-performing currency so far this year, boosted by speculation that rates could rise in the face of stronger inflation. On Wednesday it hit an intraday high of 25.056, its strongest in seven years.

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