FX mostly stable as investors eye U.S. inflation data



By Anita Komuves

BUDAPEST, Sept 13 (Reuters) - Central European currencies were rangebound on Tuesday as markets awaited key inflation data from the United States, while the Hungarian forint held steady as investors looked for news on negotiations over European Union funds.

"A further decline in the (U.S.) inflation rate will be an argument supporting the increase of the euro/dollar and thus also the strengthening of the zloty against the euro," Bank Millennium wrote in a note.

"The appreciation of the Polish currency is hampered by the near end of the interest rate hikes cycle in Poland, spoken of by an increasing number of representatives of the Monetary Policy Council," they added.

On Monday Polish central banker Cezary Kochalski said there was significantly reduced room for further interest rate hikes and the probability of ending the monetary tightening cycle had increased.

Central Europe has battled surging inflation with sharp interest rate rises since last year, but many policymakers are now largely looking to stabilise policy as price growth nears peaks and economies slow.

The zloty EURPLN= slid 0.21% to 4.7060 versus the common currency.

Elsewhere, the Hungarian forint EURHUF= edged up 0.03% to trade at 397.55 per euro.

"The market is very quiet, and forint is going to trade near this level until we hear from the European Commission next week about how negotiations are going about the EU funds," said an FX trader in Budapest.

The forint has lost about 7% versus the euro so far this year, but analysts say the government ending a long-running dispute with the EU executive to unlock funds being held up could take a weight off the currency.

The European Commission wants to see more action from Hungary on stepping up anti-corruption safeguards before Brussels agrees to unlock EU funds, EU sources told Reuters on Monday.

Elsewhere, the Romanian leu EURRON= was flat while the Czech crown EURCZK= edged lower moved as data showed a smaller-than-expected current account deficit for July.

CEE

SNAPSH AT

MARKETS OT

1019

CET

CURREN

CIES

Latest Previo Daily Change

us

bid

close change in

2022 EURCZK Czech

<EURCZK 24.520 24.510 -0.04% +1.44 =

crown

=>

0

0

% EURHUF Hungary <EURHUF 397.55 397.65 +0.03 -7.08% =

forint =>

00

00

% EURPLN Polish <EURPLN 4.7060 4.6960 -0.21% -2.44% =

zloty

=>

EURRON Romania <EURRON 4.9140 4.9140 +0.00 +0.70 =

n leu

=>

%

% EURHRK Croatia <EURHRK 7.5205 7.5243 +0.05 -0.04% =

n kuna =>

% EURRSD Serbian <EURRSD 117.26 117.34 +0.07 +0.27 =

dinar

=>

00

00

%

%

Note:

calculated from

1800

daily

CET

change

Latest Previo Daily Change

us

close change in

2022 .PX

Prague

.PX

1246.9 1223.8 +1.89

5

400

% .BUX

Budapes .BUX

41685. 41624. +0.15 -17.81

t

43

90

%

% .WIG20 Warsaw <.WIG20 1560.7 1561.9 -0.08% -31.15

>

6

7

% .BETI Buchare .BETI 11891. 11881. +0.09 -8.96%

st

61

08

% .SBITO Ljublja <.SBITO 1086.2 1080.8 +0.49 -13.48 P

na

P>

2

8

%

% .CRBEX Zagreb <.CRBEX 1993.4 1993.6 -0.01% -4.13%

>

6

6

.BELEX Belgrad <.BELEX 846.84 845.04 +0.21 +3.18 15

e

15>

%

% .SOFIX Sofia

<.SOFIX 611.90 612.22 -0.05% -3.74%

>

Yield Yield Spread Daily

(bid) change vs

change

Bund

in

Czech

spread

Republi

c

CZ2YT=

<CZ2YT= 5.9010 -0.178 +456b -23bps RR

2-year RR>

0

ps CZ5YT=

<CZ5YT= 5.0390 -0.041 +353b -7bps RR

5-year RR>

0

ps CZ10YT

<CZ10YT 4.5710 -0.075 +291b -9bps =RR

10-year =RR>

0

ps

Poland

PL2YT=

<PL2YT= 6.2930 -0.034 +495b -9bps RR

2-year RR>

0

ps PL5YT=

<PL5YT= 6.2670 -0.001 +476b -3bps RR

5-year RR>

0

ps PL10YT

<PL10YT 5.8790 -0.015 +422b -3bps =RR

10-year =RR>

0

ps

FORWARD

3x6

6x9

9x12

3M

interb

ank

Czech

<CZKFRA

7.26

7.14

6.65

7.26

Rep

><PRIBO

R=>

Hungary <HUFFRA 14.30 14.17 14.27 12.85

><BUBOR

=>

Poland <PLNFRA

7.29

7.28

7.04

7.15

><WIBOR

=>

Note:

are for ask

FRA

prices

quotes

****************************************

**********************


Additional reporting by Pawel Florkiewicz in Warsaw; Editing by Krishna Chandra Eluri

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