Slovak crown firms on improved emerging market mood

15.06.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

BRATISLAVA, June 16 (Reuters) - The Slovak crown firmed through a psychological level of 34.0 per euro on Friday, helped by renewed investor...

...appetite for emerging assets, traders said. 
    Emerging markets gained ground on Friday, after days of 
volatility, as tame U.S. inflation data weakened market 
expectations that the U.S. Federal Reserve would need to 
consider higher interest rates to keep inflation in check. 
    The crown traded 33.930 per euro , its strongest 
level since June 5, as of 1445 GMT, compared with 34.250 late on 
Thursday. 
    "If external factors do not turn negative for the crown, it 
should continue strengthening (next week)," one trader with a 
foreign bank in Bratislava said. 
    The crown often follows central European currencies and 
global emerging markets despite the fact that it is the only 
unit in the region pegged to the euro within the Exchange Rate 
Mechanism ERM-2. 
----------------MARKET SNAPSHOT AT 1445 GMT------------------- 
Crown/Euro  33.930 vs 34.250 on Thursday (+0.9 pct) 
Crown/Dollar  25.450 vs 25.710 (+1.02 pct)  
5-yr govt bond  yield 4.553/4.335 vs 4.600/4.300 pct 
7-yr govt bond  yield 4.775/4.554 vs 4.750/4.550 pct 
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