Slovak crown recovers with region, lacks trend

01.03.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

    BRATISLAVA, March 1 (Reuters) - The Slovak crown pared some 
of this week's losses on Thursday thanks to a rebound on 
emerging markets, but dealers said the unit would remain exposed 
to movements on global sentiment in the coming days. 
    The crown was quoted at 34.400 per euro as of 1630 GMT, 
compared with 34.500 late on Wednesday, and 0.6 percent stronger 
than a two-week low of 34.600 it hit earlier this week. 
    "The crown has no clear direction. It will move according to 
sentiment in the region, within a range of 34.350-34.600 (per 
euro)," said Tatra Banka trader Boris Somorovsky. 
    The Slovak currency often tracks neighbouring Polish zloty, 
Czech crown and Hungarian forint in the absence of domestic 
market moving factors. 
    Emerging markets have been volatile in recent days because 
of a fall in Chinese assets and investors' worries over the U.S. 
economy. Analysts said sour sentiment did not appear to be over 
yet, mainly for the riskier higher yielding currencies. 
------------------ MARKET SNAPSHOT AT 1500 GMT ----------------- 
Crown/euro  at 34.400 vs 34.500 on Wednesday 
Crown/dollar   26.136 vs 26.086 
5-yr govt bond  yield 4.350/4.150 vs 4.275/4.172 pct 
7-yr govt bond  yield 4.351/4.200 vs 4.263/4.180 pct 
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