Slovak crown in tight range, awaits cbank move

...central bank (NBS) liquidity-draining tender 
later this week, dealers said. 
    At 1430 GMT the crown traded at 33.320 per euro , 
compared with 33.270 on Friday. 
    "No new impetus emerged today. The market is waiting for 
tomorrow's repo tender to see how the central bank will react to 
recent crown firming," said Tatra Banka dealer Milan Cavojec. 
    The crown has gained more than one percent against the euro 
since the NBS cut its key repo rate by 25 basis points to 4.50 
percent on March 27. 
    The central bank also rejected around half of the bids in 
the two-week repo tender last week to dent the crown's strength. 
Analysts expected the NBS to leave the market with excess 
liquidity on Tuesday to discourage hot money inflows. 
    "Oil prices remain high, which will hamper the NBS' effort 
to reduce inflation but liquidity injections look likely at the 
repo tomorrow as the NBS will want to slow the downside for 
EUR/SKK," Lucy Bethell, currency strategist at Royal Bank of 
Scotland, wrote in a note. 
    The NBS also intervened against the crown in March when the 
unit jumped to a record high of 32.710 per euro after 
revaluation of its peg in the exchange rate mechanism ERM-2. 
------------------ MARKET SNAPSHOT AT 1430 GMT ----------------- 
Crown/euro  33.320 vs 33.270 on Friday (-0.15 pct) 
Crown/dollar   at 24.860 vs 24.985 (+0.50) 
5-yr govt bond  yield 4.100/3.900 pct vs 4.170/3.971 
7-yr govt bond  yield 4.250/4.100 pct vs 4.229/3.979 
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