BELGRADE, Oct 23 (Reuters) - The Czech crownEURCZK= weakened on Wednesday in step with other emerging European currencies as the central bank governor indicated a possible need to intervene. The central bank has been mulling using interventions since cutting interest rates to near zero last November but the seven-member board voted against any action at the last two policy meetings.ID:nL6N0HU0O3 But Czech central bank Governor Miroslav Singer said on Wednesday there were signs the bank may need to intervene to weaken the crown and ease monetary policy further.ID:nP7N0F700L Following the comments, the crown traded near its three and-a-half week low. "This (governor's statement) will guarantee that the CZK (the Czech crown) will underperform its peers in the region, especially in this strong risk-on environment," Societe Generale said in a daily note. The Czech finance ministry is auctioning 3- and 6-year bonds with results due at midday. Dealers expect good demand, especially after U.S. jobs data. "Front end maturity and rates friendly environment mean the issuer will face no trouble getting the bonds subscribed," Komercni Banka fixed income trader Dalimil Vyskovsky said. The Polish zlotyEURPLN= , the region's most liquid currency, was traded 0.40 percent lower from Tuesday while the Romanian leuEURRON= traded 0.20 percent lower from Tuesday. The Hungarian forintEURHUF= and the Serbian dinarEURRSD= were unchanged from Tuesday. The Serbian central bank said late on Tuesday it had bought 50 million euros to prevent the dinar's excessive daily strengthening. Since the beginning of October the bank has purchased a total of 85 million euros to prevent the dinar strengthening after the data showed September inflation was within the central bank's target range for the first time in 18 months. CEE MARKETS SNAPSHOT AT 1035 CET ************************** CURRENCIES ************************ Latest Previous Daily Change bid close change in 2013 Czech crownEURCZK= 25.808 25.754 -0.21% -2.94% Hungarian forintEURHUF= 292.340 292.210 -0.04% -0.47% Polish zlotyEURPLN= 4.179 4.161 -0.43% -2.50% Romanian leuEURRON= 4.438 4.427 -0.24% +0.11% Croatian kunaEURHRK= 7.612 7.612 0.00% -0.80% Serbian dinarEURRSD= 113.880 113.960 +0.07% -1.39% Note: daily change calculated from previous close at 1600 GMT **************************** STOCKS ************************** Latest Previous Daily Change close change in 2013 Prague.PX 992.61 998.00 -0.54% -4.44% Budapest.BUX 18658.10 18786.57 -0.68% +2.67% Warsaw.WIG20 2524.38 2544.45 -0.79% -2.27% Bucharest.BETI 5921.65 5923.75 -0.04% +14.99% ***************************** BONDS ************************** Yield Yield Spread Daily (bid) change vs Bund change in Czech Republic spread 2-yearCZ2YT=RR 0.199 -0.008 +4bps -2bps 5-yearCZ5YT=RR 1.194 +0.012 +44bps +3bps 10-yearCZ10YT=RR 2.389 +0.010 +61bps +3bps Hungary 3-yearHU3YT=RR 5.250 +0.200 +498bps +21bps 5-yearHU5YT=RR 5.650 +0.050 +489bps +7bps 10-yearHU10YT=RR 6.230 +0.080 +445bps +10bps Poland 2-yearPL2YT=RR 2.950 +0.060 +279bps +5bps 5-yearPL5YT=RR 3.470 +0.080 +271bps +10bps 10-yearPL10YT=RR 4.010 +0.130 +223bps +15bps ******************* FORWARD RATE AGREEMENTS ****************** 3x6 6x9 9x12 3M interbank Czech RepCZKFRA PRIBOR= 0.440 0.440 0.470 0.44 HungaryHUFFRA BUBOR= 3.190 3.200 3.260 3.55 PolandPLNFRA WIBOR= 2.730 2.760 2.830 2.67 Note: FRA quotes are for ask prices CEE MARKETS SNAPSHOT AT 1035 CET ************************** CURRENCIES ************************ Latest Previous Daily Change bid close change in 2013 Czech crownEURCZK= 25.808 25.754 -0.21% -2.94% Hungarian forintEURHUF= 292.340 292.210 -0.04% -0.47% Polish zlotyEURPLN= 4.179 4.161 -0.43% -2.50% Romanian leuEURRON= 4.438 4.427 -0.24% +0.11% Croatian kunaEURHRK= 7.612 7.612 0.00% -0.80% Serbian dinarEURRSD= 113.880 113.960 +0.07% -1.39% Note: daily change calculated from previous close at 1600 GMT **************************** STOCKS ************************** Latest Previous Daily Change close change in 2013 Prague.PX 992.61 998.00 -0.54% -4.44% Budapest.BUX 18658.10 18786.57 -0.68% +2.67% Warsaw.WIG20 2524.38 2544.45 -0.79% -2.27% Bucharest.BETI 5921.65 5923.75 -0.04% +14.99% ******************* FORWARD RATE AGREEMENTS ****************** 3x6 6x9 9x12 3M interbank Czech RepCZKFRA PRIBOR= 0.440 0.440 0.470 0.44 HungaryHUFFRA BUBOR= 3.190 3.200 3.260 3.55 PolandPLNFRA WIBOR= 2.730 2.760 2.830 2.67 Note: FRA quotes are for ask prices ************************************************************** ************************************************************** For related news and prices, click on the codes in brackets: All emerging market newsEMRG CEEU CEE/ Spot FX rates Eastern Europe spot FXEEFX= Middle East spot FXMEFX= Asia spot FXASIAFX= Latin America spot FXLATAMFX= Other news and reports World central bank newsCEN Economic Data GuideECONGUIDE Official ratesGLOBAL/INT Emerging DiaryEMRG/DIARY Top eventsM/DIARY DiariesDIARY Diaries IndexIND/DIARY (Reporting by Reuters buraux. Writing by Ivana Sekularac; editing by Ron Askew) ((ivana.sekularac@thomsonreuters.com)(+381 11 30 44 930)(Reuters Messaging: ivana.sekularac.thomsonreuters.com@reuters.net)) Keywords: MARKETS EASTEUROPE/
CEE MARKETS 1-Czech crown weakens as governor hints at intervention
BELGRADE, Oct 23 (Reuters) - The Czech crown EURCZK= weakened on Wednesday in step with other emerging European currencies as the central bank governor indicated a possible need to intervene. The central bank has been mulling using interventions since cutting interest rates to near zero last November but the seven-member board voted against any action at the last two policy meeti
October 23, 2013
