Slovak crown rebounds from 3-wk lows, seen edgy

21.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown rebounded from a three-week low against the euro on Monday morning, but dealers said they saw only limited room for further...

...firming. 
    The local unit was at 33.750 per euro  at 0705 GMT, 
some 0.3 percent stronger from the three-week low of 33.860 hit 
on Friday. 
    "The crown started at 33.740/770 per euro in the morning, as 
some investors were selling euros and buying crowns following 
the firming of the Turkish lira," said Tatra Banka dealer Milan 
Cavojec. 
    "There is still mixed sentiment and the dividend season, so 
the crown should float between 33.600-33.800 per euro," he said. 
    Payments of dividends by Slovak companies to their foreign 
shareholders usually put the local currency under pressure in 
April and May. 
    However, analysts expect the crown to firm in the longer run 
as they forecast growing exports and an improving foreign trade 
balance. 
----------------- MARKET SNAPSHOT AT 0705 GMT ----------------- 
Crown/euro  33.750 vs 33.800 on Friday (+0.15 pct) 
Crown/dollar  at 25.030 vs 25.060 (+0.12 pct) 
5-yr govt bond  yield 4.144/3.844 vs 4.147/3.845 
7-yr govt bond  yield 4.543/4.343 vs 4.544/4.344 
--------------------------------------------------------------- 
 

[BRATISLAVA/Reuters/Finance.cz]

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