Slovak crown falls vs euro, seen staying edgy

30.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown fell against the euro on Wednesday, mirroring moves on the Polish zloty and Hungary's forint, and dealers said regional...

...sentiment would 
remain the currency's key driver in the coming days. 
    The crown stood at 34.135 per euro  as of 0800 GMT, 
after 34.050 late on Tuesday. 
    "If the Polish zloty breaks (weakens through) the 3.84 per 
euro level, the Slovak crown is likely to weaken too," one 
Bratislava-based trader said. "The closest support is at 
34.170-34.190 per euro." 
    The crown has been under pressure in the past weeks, losing 
1.5 percent to the euro since the beginning of May. 
    The central bank (NBS) kept its key interest rate at 4.25 
percent on Tuesday, after two 25 basis-point cuts in March and 
April, in line with investors' expectations. 
    The bank signalled it may take a pause in the easing cycle, 
with analysts saying external factors are most likely to define 
the unit's direction in the mid term. 
----------------MARKET SNAPSHOT AT 0800 GMT------------------- 
Crown/Euro  34.135 vs 34.050 on Tuesday (-0.25 pct) 
Crown/Dollar  25.385 vs 25.275 (-0.43 pct) 
5-yr govt bond  yield 4.511/4.290 vs 4.317/4.017 pct 
7-yr govt bond  yield 4.549/4.329 pct vs 4.559/4.359 
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[BRATISLAVA/Reuters/Finance.cz]

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