Slovak crown rises on zloty, mkt eyes U.S. data

04.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown rose versus the euro on Friday thanks to a Polish zloty jump to all-time highs, and dealers waited for a fresh impetus from...

...global 
markets later in the session. 
    The crown was at 33.560 to the euro  as of 0820 
GMT, after 33.610 late on Thursday. 
    "We expect the market focus to shift to global factors 
following the US payrolls," KBC Bank wrote in a market note. 
    "However, we do not expect any major adjustment of the 
exchange rate, the unit should once again settle down in a 
sideways trading pattern," it added. 
    The crown is often influenced by interest rate expectations 
on major markets as they drive capital in and out from emerging 
currencies. 
    The crown has risen in the past three sessions, rebounding 
from 6-week lows hit on Monday due to political turbulence in 
Turkey. 
    The main driving factor for central European markets on 
Friday morning was the Polish zloty, which rose to 3.7350 to the 
euro, its strongest level ever. 
------------------ MARKET SNAPSHOT AT 0820 GMT ----------------- 
Crown/euro  33.560 vs 33.610 on Thursday (+0.13 pct) 
Crown/dollar   at 24.763 vs 24.787 (+0.10) 
5-yr govt bond  yield 4.232/4.011 vs 4.115/3.814  
7-yr govt bond  yield 4.383/4.162 vs 4.446/4.247  
--------------------------------------------------------------- 
 

[BRATISLAVA/Reuters/Finance.cz]

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