Slovak crown rebounds from 3-week lows vs euro

...said weakness might persist in the 
near term. 
    At 0930 GMT, the crown was at 33.280 per euro , 
compared with 33.565, its weakest level since July 6, seen in 
early trade. It closed at 33.413 on Thursday. 
    "Some investors came in with larger volumes and the crown 
jumped given thin liquidity," said a dealer with a foreign bank 
in Bratislava. 
    The crown is down nearly 1 percent against the euro, 
compared with Monday's four-month peak of 32.990, due to a bout 
of global risk aversion. It is still 3.5 percent up this year. 
    It did not immediately react to producer price inflation 
data, which showed factory gate costs remained at an 8-1/2 year 
low of 1.3 percent on an annual basis in June. 
    Analysts said the crown might still touch weaker levels 
ahead of the central bank's (NBS) monthly policy meeting on July 
31. Some expected the unit to firm towards 32.500 per euro in 
the medium term. 
    "The 33.550 per euro level is a technical barrier, which 
survived for now, but we would not fully exclude further losses 
to the 33.780 per euro technical level before consolidation," 
Lucia Steklacova, senior economist at ING Bank in Bratislava, 
said in a note. 
 ----------------- MARKET SNAPSHOT AT 0930 GMT ----------------- 
 Crown/euro at 33.280 vs 33.413 on Thursday (+0.40 pct) 
 Crown/dollar  at 24.370 vs 24.276 (-0.39 pct) 
 5-year yield due March 2012  4.609 pct bid vs 4.597 
 7-year yield due Feb 2014    4.668 pct bid vs 4.700 
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