UBS has revised its EUR/CZK forecast, projecting rates of 25.1, 25.3, 25.3, and 25.3 by Q1 2026, reflecting a more optimistic outlook for the Czech koruna due to reduced customs concerns and delayed US tariffs. Despite this positive shift, risks remain, including potential trade agreements between the EU and the US, a restrictive Czech National Bank stance, and developments in Ukraine that could further influence the koruna's strength.