BUCHAREST, May 24 (Reuters) - Central European currencies
edged up on Monday, with the Czech crown testing a fresh
14-month-and-a-half high against the euro, lifted by euro"s
resurgence against a weak U.S. dollar.
The dollar stood near its lowest level in three months
against the single currency, weighed by the Federal Reserve"s
dovish tilt.
The euro zone is Central Europe"s main trading partner.
By 0850 GMT, the crown and the Polish zloty firmed about
0.1% to trade at 25.4290 and 4.4880 to the euro respectively and
the Romanian leu was flat on the day at 4.9240.
Hungarian markets are closed for a national holiday on Monday.
On Tuesday, Hungary"s national bank will hold its next
rate-setting meeting, where it is seen leaving key rates steady
ahead of a June meeting when it could deliver its first base
rate hike in nearly a decade..
"CEE FX are benefiting from U.S. dollar weakness," a
Prague-based dealer said. Rate hike expectations are also
helping.
The Czech central bank will return to its debate on raising
rates next month. It seems certain to start tightening policy
this year as pandemic effects subside and domestic consumption
is expected to pick up, Governor Jiri Rusnok had said.
The Polish zloty and the forint firmed
beyind past psychological levels against the euro last week on
expectations of policy tightening across the board, fuelled by
higher-than-expected consumer price inflation readings.
"An attempt to stay below this (4.50) (zloty) level will be
the main task for the domestic currency market in coming days.
This will continue to be supported by expectations of a quicker
monetary policy normalization than officially communicated by
the Monetary Policy Council," Bank Millennium said on a note.
CEE SNAPSHOT AT
MARKETS 1050 CET
CURRENCI
ES
Latest Previous Daily Change
bid close change in 2021
Czech crown 25.3950 25.4480 +0.21% +3.28%
Hungary 347.6000 348.6000 +0.29% +4.35%
forint
Polish zloty 4.4910 4.4942 +0.07% +1.52%
Romanian leu 4.9265 4.9267 +0.00% -1.25%
Croatian kuna 7.5030 7.5085 +0.07% +0.59%
Serbian dinar 117.5300 117.5800 +0.04% +0.03%
Note: daily calculated from 1800
change CET
Latest Previous Daily Change
close change in 2021
Prague 1156.85 1158.930 -0.18% +12.63
0 %
Budapest 46396.87 46396.87 +0.00% +10.19
%
Warsaw 2131.83 2139.06 -0.34% +7.45%
Bucharest 11693.07 11679.65 +0.11% +19.25
%
Ljubljana 1117.47 1112.00 +0.49% +24.05
%
Zagreb 1935.87 1943.60 -0.40% +11.30
%
Belgrade <.BELEX15 783.54 776.09 +0.96% +4.67%
>
Sofia 534.08 534.08 +0.00% +19.34
%
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
2-year
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