Slovak crown hits new highs on bullish region

21.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

    BRATISLAVA, Nov 21 (Reuters) - The Slovak crown extended its 
gains and rose to record highs versus the euro on Tuesday 
morning, and traders said a continued inflow of capital to 
European emerging markets could drive the crown to even stronger 
levels. 
    The crown traded at 35.545 to the euro as of 0830 GMT, the 
new all-time high, compared with 35.565 at Monday's close. 
    The crown has repeatedly broken record levels as it has 
firmed by 5 percent against the euro in the past month. 
    The currency has been driven by a mix of bullish moods on 
emerging markets and positive domestic news, such as record 9.8 
percent GDP growth in the third quarter. 
    "It seems the crown will continue firming, it's the regional 
sentiment that is driving it," said HVB bank dealer Marian 
Sulko. 
    Sulko said the crown could find solid resistance at 
35.200-300 per euro in the near term. 
    Some market players expected investors to take profits after 
the quick rise, although they said any correction should not 
stretch beyond 36.0 per euro. 
----------------MARKET SNAPSHOT AT 0830 GMT------------------- 
Crown/Euro <EURSKK=> 35.545 vs 35.565 on Monday (+0.05 pct) 
Crown/Dollar <SKK=>  27.718 vs 28.740 (+0.08 pct) 
5-yr govt bond <SK5YT=RR> yield 4.424/226 vs 4.426/4.225 pct 
8-yr govt bond <SK8YT=RR> yield 4.309/108 vs 4.319/4.120 
-------------------------------------------------------------- 
 ((Reporting by Martin Santa, editing by Chris Pizzey; Reuters 
Messaging: martin.santa.reuters.com@reuters.net; +421 5341 
8402)) 
  Keywords: MARKETS SLOVAKIA CROWN MORNING 
    

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