Slovak crown down again as emerging markets weaken

23.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown eased against the euro on Wednesday on weaker emerging markets, and dealers said the unit could ease further in the near term. ...

...    The crown stood at 33.805 per euro  as of 0730 GMT, 
compared with 33.755 late on Tuesday. 
    "Current developments on emerging markets are not 
supportive; the crown might test the 33.850 per euro level," one 
Bratislava-based foreign bank trader said. "If broken, the crown 
might look at the 34.0 per euro level." 
    Traders said the Slovak unit lacked domestic impulses and 
would remain under the influence of bigger currencies in central 
Europe -- the Polish zloty, Hungarian forint and Czech crown. 
    The next local impetus might come from a central bank 
monthly monetary policy meeting on Tuesday. 
    Many analysts forecast no policy change in May, and they 
expected crown reaction only if the bank surprised the market 
with a rate cut. 
----------------- MARKET SNAPSHOT AT 0725 GMT ----------------- 
Crown/euro  33.805 vs 33.755 on Tuesday (-0.15 pct) 
Crown/dollar  at 25.140 vs 25.068 (-0.29 pct) 
5-yr govt bond  yield 4.233/4.081 vs 4.150/3.850 
7-yr govt bond  yield 4.389/4.238 vs 4.543/4.343 
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[BRATISLAVA/Reuters/Finance.cz]

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