Slovak crown firms, seen stronger on region

21.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown firmed against the euro on Monday as European emerging markets strengthened, and dealers said the positive regional mood could ...

...push the unit still higher. 
    The crown was at 33.715 to the euro  as of 1445 
GMT, 0.4 percent firmer from its three-week low of 33.860 on 
Friday. 
    "There was no (rate) cut in Hungary, and the crown firmed on 
this," said UniCreditbank dealer Marian Sulko. 
    The central bank in neighbouring Hungary kept rates on hold 
at a monetary meeting on Monday, taking a cautious approach 
because of uncertainties over inflation and wages. 
    Sulko said the Slovak unit could move towards 33.500 per 
euro if investors remained positive on emerging markets. 
    Some traders said, however, that any uptrend will be slowed 
by payments of dividends by Slovak companies to their foreign 
shareholders, which traditionaly weighs on the crown in around 
April and May. 
----------------- MARKET SNAPSHOT AT 1445 GMT ----------------- 
Crown/euro  33.715 vs 33.800 on Friday (+0.25 pct) 
Crown/dollar  at 25.074 vs 25.060 (-0.06 pct) 
5-yr govt bond  yield 4.201/4.030 vs 4.147/3.845 
7-yr govt bond  yield 4.500/4.328 vs 4.544/4.344 
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[BRATISLAVA/Reuters/Finance.cz]

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