Slovak crown slips on forint, seen testing support

21.09.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

    BRATISLAVA, Sept 21 (Reuters) - The Slovak crown <EURSKK=> 
lost ground against the euro on Thursday and dealers said  
regional bearish sentiment stemming from Hungary could push the 
unit out of its well-established range towards weaker levels. 
    The crown was quoted at 37.450 to the euro as of 0825 GMT, 
touch from 37.420 late on Wednesday. 
    The currency has been stuck between 37.300-37.500 to the 
euro in the past week following sentiment on emerging markets as 
trading lacked domestic impulses. 
    "If the forint weakens, the crown will weaken too. I think 
that the 37.500 per euro level will be broken today," said HVB 
Bank dealer Marian Sulko. 
    The forint tumbled more than two percent against the euro 
since Monday after the anti-government riots triggered by the 
leak of a tape in which Prime Minister Gyurcsany admits lying to 
voters to win general election in April. 
    A decision by Japan's Sony to build a 73 million euro new 
flat-screen factory in Slovakia provided a slight but temporary 
support for the crown, but negative mood spilling over from 
Hungary overwhelmed domestic news. 
    The next domestic impulse is expected in the coming weeks 
from the details of the 2007 state budget, which will show 
whether the leftist cabinet keeps the country on track to join 
the euro zone in 2009. 
----------------MARKET SNAPSHOT AT 0830 GMT------------------- 
Crown/Euro <EURSKK=> 37.450 vs 37.420 on Wednesday 
Crown/Dollar <SKK=>  29.430 bid vs 29.460  
5-yr govt bond <SK5YT=RR> yield 5.050/4.850 vs 5.071/4.772 
9-yr govt bond <SK9YT=RR> yield 4.960/4.761 vs 4.961/4.761 
-------------------------------------------------------------- 
 ((Reporting by Peter Laca, editing by Cheryl Juckes; 
peter.laca@reuters.com; Reuters Messaging: 
peter.laca.reuters.com@reuters.net; +421-2 5341 8402)) 
` 
  Keywords: MARKETS SLOVAKIA CROWN OPEN 
    

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