Slovak crown quiet before holiday, seen stronger

05.04.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

BRATISLAVA, April 5 (Reuters) - The Slovak crown hugged a tight range around the 33.400 level to the euro Thursday, as investors squared...

...positions ahead of Easter holiday. 
    The crown was quoted at 33.400 per euro  as of 1520 
GMT, little changed from 33.440 late on Wednesday. 
    Slovak markets will be closed for holiday on Friday and 
Monday and analyst said they see potential for firming next 
week. 
    "The region is moving a touch firmer, and firming pressures 
are to be expected (next week)," one Bratislava-based trader 
said. "On the other side is the central bank (NBS), which is 
watching and promising not to let the crown (firm)." 
    The central bank intervened early on Wednesday, its third 
intervention this year, when the crown firmed to around 33.100 
per euro, sending the unit as far as 33.700 per euro. 
    "The central bank will keep monitoring, assessing and 
reacting (to forex market developments)," the NBS board member 
Peter Sevcovic told Reuters on Thursday. 
    Investors will look at the outcome of the liquidity-draining 
repo tender next Tuesday as well as foreign trade data on 
Wednesday to give the currency further impetus. 
    The currency has been strengthening sharply this year, and 
the NBS to revalue its crown's peg within the exchange rate 
mechanism ERM-2 by 8.5 percent in March. 
------------------ MARKET SNAPSHOT AT 1520 GMT ----------------- 
Crown/euro  33.400 vs 33.440 on Wednesday 
Crown/dollar   at 24.840 vs 25.040 
5-yr govt bond  yield 4.065/3.665 pct 
7-yr govt bond  yield 4.290/4.090 pct 
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