Slovak crown firmer with region, eyes repo tender

    The Slovak crown was slightly 
firmer on Tuesday thanks to a rebound on emerging markets, but 
traders said the trend would depend on the result of the central 
bank's repo auction later in the session. 
    The crown was quoted at 34.340 per euro as of 0945 GMT 
compared with 34.430 late on Monday. 
    The main local factor for the crown will be Tuesday's repo 
tender. The central bank used last week's tender to support 
direct interventions against a rising crown, rejecting some bids 
to leave excess liquidity on the market. 
    "The market now waits for the result of the repo tender," 
said Slovenska Sporitelna dealer Juraj Zabadal. "According to 
where the spot level is now, it is possible that the central 
bank will cut (the bids)." 
    The Slovak unit is now 10.6 percent above its central parity 
within the Exchange Rate Mechanism 2 (ERM-2), which the country 
joined in November 2005 as part of a plan to adopt the euro in 
2009. 
----------------- MARKET SNAPSHOT AT 0925 GMT ----------------- 
 Crown/euro  34.370 vs 34.430 on Monday (+0.22 pct) 
 Crown/dollar   26.364 vs 26.479 (+0.44 pct) 
5-yr govt bond  yield 4.226/4.067 vs 4.268/3.867 
7-yr govt bond  yield 4.249/4.120 vs 4.237/4.037 
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[BRATISLAVA/Reuters/Finance.cz]