Czech crown hits new record in overnight trade

PRAGUE, Dec 1 (Reuters) - The Czech crown firmed to a new lifetime high of 27.820 against the euro in overnight trade and was quoted within sight of the new record level before the market's open on Friday morning.

The crown rose beyond the previous peak of 27.875 seen on Nov. 6. It was quoted at 27.880/905 per euro <0#EURCZK=> by 0640 GMT on Reuters dealing system.

The crown also hovered at all-time highs against the U.S. dollar, being quoted at around 21.000 to the U.S. currency, which is suffering from expectations that a weakening economy will prompt the Federal Reserve to cut interest rates next year.

The rally over the past few weeks, driven by inflows into emerging markets on a benign view of the global economy, has extended the Czech currency's year-to-date gains to 4.5 percent to the euro and 17 percent to the dollar. ((Reporting by Marek Petrus; Editing by Alex Richardson; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) - For previous updates on Czech currency moves click on [CZK/] --------ECONOMIC DATA RELEASES (double click to access)-------- LIVE Czech economic data releases <ECONCZ> INSTANT VIEWs on Czech economic data [CZ/INSTANT] Factors To Watch in Czech Republic [nCZECH] ---------------------------RELATED NEWS------------------------ Czech FX outlook poll [CZK/POLL] Emerging forex [EMRG/FRX] Hungary market report [FT/] Poland market report [PLN/] All emerging markets news [EMRG] CEE indicators [CONV/DIARY] All east Europe news [EEU] E.Europe equities [.CEE] TOP NEWS -- Emerging markets [TOP/EMRG] TOP NEWS -- Convergence watch [TOP/EAST] Czech indicators [CZ/ECI] Hungary indicators [HU/ECI] Slovak indicators [SK/ECI] Polish indicators [PL/ECI] --------------------LIVE PRICES & DATA------------------------- Crown Spot Against EUR <EURCZK=> Against USD <CZK=> Czech Bonds <0#CZBMK=> C.Europe Bonds <CEEBONDS> Crown FRAs <CZKFRA=TTKL> Central Bank Fixings <CNB02> Contrib. Cross Rates <CZKX1=> Czech Central Bank <CNB01> -------------------------------------------------------------- HOW TO FIND INFORMATION YOU NEED

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Keywords: MARKETS CZECH CROWN RECORD