Slovak crown rebounds on zloty, lacks trend

25.04.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

BRATISLAVA, April 25 (Reuters) - The Slovak crown firmed against the euro on stronger Polish zloty on Wednesday, but dealers said the unit would...

...remain volatile and without a clear 
direction in the near future. 
    The crown was at 33.540 per euro  as of 1500 GMT, 
after 33.700 late on Tuesday. 
    The Slovak unit fell to five-week lows of 33.760 per euro on 
Tuesday, after the central bank cut its main interest rate by 25 
basis points and analysts predicted more monetary policy easing 
this year. 
    But the local influence did not last for long, and the crown 
mirrored moves of bigger regional currencies on Wednesday. 
    "The crown seems to be reacting to firming Polish zloty 
right now," said Tatra Banka dealer Boris Somorovsky. "It's hard 
to predict future trend... it is moving between 33.450-33.750, 
and it will probably stay within that range." 
------------------ MARKET SNAPSHOT AT 1500 GMT ----------------- 
Crown/euro  33.540 vs 33.700 on Tuesday(+0.50 pct) 
Crown/dollar   at 24.550 vs 24.760 (+0.86) 
5-yr govt bond  yield 4.172/3.772 pct 
7-yr govt bond  yield 4.348/4.148 pct 
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