Slovak crown stronger, seen tracking emerging mkts

02.03.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

    BRATISLAVA, March 2 (Reuters) - The Slovak crown was 
slightly firmer against the euro on Friday morning, with dealers 
expecting the unit to continue following emerging market swings 
amid an absence of local factors. 
    The crown traded at 34.360 per euro  as of 0830 GMT, 
after 34.400 late on Thursday, and 0.7 percent stronger than  
the two-week lows of 34.600 it hit earlier this week. 
    "There is no clear trend. All will depend on sentiment on 
emerging markets and stock markets moves," CSOB bank wrote in a 
market note. "We would bet on (crown) exchange rate 
stabilisation near current levels." 
    The crown lost ground alongside other emerging currencies on 
Tuesday, but it has since recovered most of the losses. 
    The next domestic impetus could come from the release of 
detailed 2006 GDP data, scheduled for Tuesday, which is expected 
to give clues on when the central bank will be able to cut 
interest rates. 
------------------ MARKET SNAPSHOT AT 0830 GMT ----------------- 
Crown/euro  at 34.360 vs 34.400 on Thursday 
Crown/dollar   26.092 vs 26.136 
5-yr govt bond  yield 4.274/4.075 vs 4.350/4.150 pct 
7-yr govt bond  yield 4.307/4.175 vs 4.351/4.200 pct 
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