PRAGUE, Jan 12 (Reuters) - Hungary"s forint led gains among
central European currencies on Tuesday, looking to end a retreat
over the past week, while the zloty slipped before a Polish
central bank meeting this week, drawing more attention than
usual.
Stock markets also largely gained and were near their
highest levels since February.
The forint had risen 0.2% to 360.66 to the euro by
1125 GMT and the zloty fell 0.1% to 4.528.
The zloty is forecast to gain the most in the region in 2021
although central bank comments on possible rate cuts or foreign
exchange market intervention to weaken the currency are leaving
many cautious in the short-term.
The central bank (NBP) will decide on policy on Wednesday
and rates are expected to stay on hold. Governor Adam Glapinski
has said that a rate cut could be possible in the first quarter
and that the bank started market interventions in mid-December.
"The increase in appetite for emerging market assets is
neutralized by concerns about NBP currency interventions," Bank
Millennium said.
Elsewhere, the Czech crown added 0.2% to 26.215
per euro and was off recent highs. Romania"s leu was
steady.
Czech bond yields ticked higher before a scheduled auction
on Wednesday.
Prague and Warsaw stocks gained but hung off
of highs last seen in February which they hit on Monday.
Budapest was off a similar peak.
"I do not think the Hungarian stock market can stay this
high or continue to climb further. It rose way too much in the
past two months and there needs to be a correction in the long
term," a stock trader in Budapest said.
CEE SNAPSHO AT
MARKETS T 1225
CET
CURRENC
IES
Latest Previou Daily Change
s
bid close change in 2021
EURCZK Czech
مشاركة :