off-the-wire

CEE MARKETS-Weaker dollar helps zloty scale 15-month peak

Kitco Media
By Reuters
Published:
Updated:
Reuters
WARSAW, May 10 (Reuters) - The Polish zloty hit a fresh 15-month high on Wednesday as a weaker dollar signalled a continued appetite for riskier assets among investors. "I think the fact that the euro-dollar exchange rate, despite the correction, remains at an elevated level is conducive here," Ipopema Securities economist Marcin Sulewski said. By 1045 GMT the zloty had gained 0.24% to 4.5410 per euro, pushing further to its highest level since February 2022. Sulewski said he, however, sees little room for further growth ahead. "I think that the dollar in the next 2-3 weeks could gain a little (against the euro), so here the potential for further appreciation of currencies in our region is limited." The Polish central bank will decide on rates on Wednesday, with all 14 respondents in a Reuters poll expecting them to stay unchanged and experts waiting for signals on their further direction from the central bank governor's speech scheduled for Thursday. Also on Wednesday Romania's central bank is widely expected to keep its benchmark rate on hold and present its latest inflation forecasts on Friday. Elsewhere the Czech crown and Hungarian forint remained flat.



CEE SNAPSHOT AT


MARKETS 1245 CET


CURRENCI


ES


Latest Previous Daily Change bid close change in 2023 Czech 23.3940 23.3930 -0.00% +3.27% crown
Hungary 371.1500 371.1500 +0.00% +7.62% forint
Polish 4.5410 4.5520 +0.24% +3.27% zloty
Romanian 4.9230 4.9209 -0.04% +0.40% leu
Serbian 117.2300 117.2800 +0.04% +0.06% dinar
Note: calculated from 1800 CET
daily
change



Latest Previous Daily Change close change in 2023 Prague 1388.83 1384.150 +0.34% +15.57% 0
Budapest 46439.66 46741.15 -0.65% +6.04% Warsaw 1919.84 1919.92 -0.00% +7.13% Bucharest 12191.70 12181.07 +0.09% +4.53% Ljubljana 1214.27 1213.35 +0.08% +15.78% Zagreb 2245.78 2242.45 +0.15% +754.66 % Belgrade <.BELEX15 913.67 914.49 -0.09% +10.80% >
Sofia 620.33 617.95 +0.39% +3.13%


Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic
2-year <CZ2YT=RR 5.7120 -0.2670 +307bps -24bps >
5-year <CZ5YT=RR 5.0440 -0.0470 +279bps -3bps >
10-year <CZ10YT=R 4.5590 0.0030 +224bps +2bps R>
Poland
2-year <PL2YT=RR 5.7830 -0.0150 +314bps +1bps >
5-year <PL5YT=RR 5.7450 -0.0320 +349bps -1bps >
10-year <PL10YT=R 5.8130 -0.0250 +350bps -1bps R>


FORWARD


3x6 6x9 9x12 3M interban k Czech Rep < 7.28 6.89 6.18 7.18 PRIBOR=>
Hungary < 14.40 12.87 11.68 16.20 BUBOR=>
Poland < 6.81 6.47 6.07 6.89 WIBOR=>
Note: FRA are for ask prices
quotes

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(Reporting by Karol Badohal in Warsaw, Luiza Ilie in Bucharest; editing by Eileen Soreng)


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