Slovak crown hits 7-wk lows vs euro, seen weak

...assets, and 
dealers expect the unit to stay under pressure in the short run. 
    The crown fell as low as 33.835 per euro  in early 
trade, its weakest level since June 28. At 0910 GMT, it was at 
33.810, compared with Wednesday's close of 33.720. 
    "The crown is weakening under the region's influence ... due 
to a rise in risk aversion and carry trade unwinding," said 
Mario Mika, chief trader at VUB Bank in Bratislava. 
    Investors continued to flee emerging markets on Thursday due 
to worries about worsening credit sector problems, which boosted 
safe-haven currencies such as the Japanese yen. 
    The release of EU-norm Slovak inflation and jobless data for 
July had no effect on the market, and analysts said the global 
mood would keep driving local currency moves in the near term. 
    "Slovak fundamentals have improved relative to last year and 
this is providing some shield. That said, I expect more weakness 
in the near term," said Raffaella Tenconi, analyst at Dresdner 
Kleinwort Wasserstein. 
---------------- MARKET SNAPSHOT AT 0910 GMT-------------------- 
Crown/euro at 33.810 vs 33.720 on Wednesday (-0.27 pct) 
Crown/dollar  at 25.141 vs 25.016 (-0.50 pct) 
 5Y bond yld due March/2012  at 4.55 pct bid vs 4.65 
10Y bond yld due April/2017  at 4.75 pct vs 4.70 
---------------------------------------------------------------- 
 

[BRATISLAVA/Reuters/Finance.cz]