Slovak crown recovers from 3-mo lows, seen edgy

11.06.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

BRATISLAVA, June 11 (Reuters) - The Slovak crown recouped some of its recent losses against the euro on Monday, rebounding from a three-month...

...low but dealers said weakening 
pressures remain. 
    The crown firmed as high as 34.225 per euro during the 
session, but slipped back later in the afternoon and was quoted 
at 34.265 per euro  as of 1430 GMT. It stood at 34.390 
per euro late on Friday. 
    "The crown's weakening is not over yet," said Tatra Banka 
dealer Boris Somorovsky. "If the crown stays above 34.150-34.200 
per euro it might ease toward 34.500 per euro." 
    The crown lost ground last week, alongside other regional 
peers, as bearish global sentiment pushed emerging markets 
weaker. 
    The crown showed no reaction to the release of April foreign 
trade and May inflation data earlier in the session, which came 
in a touch better than expected. 
    The currency is now trading 3.3 percent above its central 
parity rate in the Exchange Rate Mechanism 2 (ERM-2), and 4.5 
percent weaker from a record 32.710 per euro, booked after its 
parity revaluation within the ERM-2 currency grid on March 16. 
     
----------------MARKET SNAPSHOT AT 1430 GMT------------------- 
Crown/Euro  34.265 vs 34.390 on Friday (+0.36 pct) 
Crown/Dollar  25.680 vs 25.744 (+0.25 pct)  
5-yr govt bond  yield 4.438/4.218 vs 4.650/4.451 pct 
7-yr govt bond  yield 4.851/4.630 vs 4.729/4.530 pct 
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