Slovak crown at 3-wk lows on fading risk appetite

17.12.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown traded at three-week lows against the euro on Monday as emerging currencies remained under pressure following last week's U...

...S. 
inflation data, analysts said. 
    The crown fell as far as 33.645 per euro , its 
weakest mark since Nov. 23. It was at 33.560 as of 1240 GMT, 
compared with Friday's close of 33.535. 
    "The regional mood in the CEE region turned negative as the 
U.S. dollar posted strong gains against the euro on Friday, on 
the released report of higher-than-expected inflation," 
Slovenska Sporitelna wrote in a market note. 
    Analysts said the most likely scenario was that the crown 
would stabilise between 33.300 and 33.600 per euro in the coming 
days with the central bank (NBS) expected to keep the main 
interest rate at 4.25 percent for the eight month running. 
    "The NBS decision on Tuesday to keep the key rate on hold 
will be fully neutral for the market, together with expectations 
for a vigilant attitude at the press conference after the 
decision," said Lucia Sramkova, senior economist at ING Bank in 
Bratislava. 
    The NBS is expected to announce its decision between 1015 
and 1200 GMT on Tuesday. 
--------------- MARKET SNAPSHOT AT 1240 GMT ------------------- 
Crown/euro at 33.560 vs 33.535 on Friday (-0.07 pct) 
Crown/dollar  at 22.334 bid vs 23.218 (-0.50 pct) 
 5-yr bond yld due Mar 2012  at 4.655/4.357 pct  
10-yr bond yld due April 2017  at 4.699/4.400 pct 
--------------------------------------------------------------- 
 (Reporting by Martin Santa; editing by David Christian-Edwards) 
  
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[SKK/]. 
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[BRATISLAVA/Reuters/Finance.cz]

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