Slovak crown dips on risk aversion, seen edgy

...stronger global risk aversion, 
traders said. 
    The crown weakened alongside neighbouring bigger markets in 
central Europe, although its losses were less sharp because of 
the smaller exposure by foreign players and Slovakia's solid 
economic fundamentals. 
    The local unit was at 33.450 per euro  as of 1530 
GMT, compared with 33.405 late on Tuesday. 
    Emerging markets lost ground early on Wednesday due to 
rumours of conflict, dismissed by the U.S., between the United 
States and Iran. 
    "Further crown development will be influenced by the region, 
and by global risks," said HVB Bank dealer Marian Sulko. "If 
there is a global sell-off, we might weaken sharply, very easily 
towards 35.0 per euro." 
    The current easing may bode well for the central bank, which 
had fought against fast crown firming with direct interventions 
earlier this month. 
    The bank cut rates by 25 basis point on Tuesday, responding 
to the firming crown, healthy structure of strong economic 
growth and slowing inflation. 
    Analysts said more monetary easing was likely this year, and 
the timing and size would depend on the pace of crown gains. 
------------------ MARKET SNAPSHOT AT 1520 GMT ----------------- 
Crown/euro  at 33.450 vs 33.405 on Tuesday (-0.21 pct) 
Crown/dollar   at 25.066 vs 25.018 (-0.19) 
5-yr govt bond  yield 4.101/3.900 pct vs 4.096/3.886 
7-yr govt bond  yield 4.249/4.100 pct vs 4.216/4.082 
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