October 21, 2019 / 10:11 AM / 23 days ago

CEE MARKETS-Currencies edge higher on Brexit deal hopes

    By Radu-Sorin Marinas
    BUCHAREST, Oct 21 (Reuters) - Central European currencies
edged up on Monday after the British parliament forced prime
minister Boris Johnson to seek an extension to an Oct. 31
deadline for leaving the European Union, reducing expectations
of a 'no deal' Brexit.
    Johnson's plan to put his Brexit withdrawal deal to British
lawmakers on Saturday was thwarted when they voted to withhold a
decision and requested him to seek a third postponement of
Britain's departure from the bloc.
    At a rare Sunday meeting of ambassadors of the 27 states
that will make up the EU after Brexit, the diplomats decided to
forward Johnson's deal to the European Parliament for its
required approval.
    By 0910 GMT, the Polish zloty and Hungary's forint
 each firmed about 0.2% to trade at 4.2765 and at
330.25 to the euro respectively.
    The Czech crown edged 0.1% up to 25.618, clinging
close to three-month highs. The Romanian leu was flat.
    "If Boris Johnson manages to push his deal through the
parliament this week, the crown may add to its gains and move
close to 25.50 to euro," CSOB/KBC analysts said in a note.
    Elsewhere, Romania holds a tender to sell 500 million lei of
June 2024 treasury bonds.
    "The market mood remains volatile due to Brexit
uncertainties but we should see the auction filled around 3.85%
(against last month's 3.91%)," ING said.   
    Regional stocks mostly rose amid signs of progress in the
United States-China trade talks, with Warsaw and
Bucharest both gaining around 0.6% on the day. 

             CEE MARKETS  SNAPSHO                              
                          T                            
                                                       
                          CURRENC                              
                          IES                          
                          Latest   Previous   Daily    Change
                          bid      close      change   in 2019
 Czech                    25.6180    25.6350   +0.07%    +0.35%
 crown                                                 
 Hungary                  330.250   330.9000   +0.20%    -2.78%
 forint                         0                      
 Polish                    4.2765     4.2846   +0.19%    +0.31%
 zloty                                                 
 Romanian                  4.7595     4.7556   -0.08%    -2.22%
 leu                                                   
 Croatian                  7.4390     7.4425   +0.05%    -0.39%
 kuna                                                  
 Serbian                  117.480   117.6200   +0.12%    +0.70%
 dinar                          0                      
 Note:       calculated from                  1800             
 daily                                        CET      
 change                                                
                                                               
                          Latest   Previous   Daily    Change
                                   close      change   in 2019
 Prague                   1046.39  1042.9000   +0.33%    +6.06%
 Budapest                 40761.5   40826.33   -0.16%    +4.15%
                                3                      
 Warsaw                   2176.21    2164.75   +0.53%    -4.41%
 Bucharest                9597.33    9539.91   +0.60%   +29.98%
 Ljubljana                 871.66     875.13   -0.40%    +8.38%
 Zagreb                   2016.47    2013.05   +0.17%   +15.31%
 Belgrade                  751.00     748.57   +0.32%    -1.40%
 Sofia                     562.26     564.83   -0.46%    -5.42%
                          BONDS                                
                          Yield    Yield      Spread   Daily
                          (bid)    change     vs Bund  change
                                                       in
 Czech                                                 spread
 Republic                                              
   2-year                  1.2370    -0.0800   +189bp     -9bps
                                                    s  
   5-year                  1.0780    -0.0500   +170bp     -8bps
                                                    s  
   10-year                 1.4420     0.0360   +179bp     -1bps
                                                    s  
 Poland                                                        
   2-year                  1.4980    -0.0080   +215bp     -2bps
                                                    s  
   5-year                  1.7870     0.0240   +240bp     -1bps
                                                    s  
   10-year                 2.0570     0.0390   +240bp     +0bps
                                                    s  
             FORWARD      RATE     AGREEMENT                   
                          3x6      6x9        9x12     3M
                                                       interban
                                                       k
 Czech Rep           <PR     2.29       2.25     2.18      2.18
             IBOR=>                                    
 Hungary             <BU     0.30       0.32     0.36      0.21
             BOR=>                                     
 Poland              <WI     1.72       1.69     1.67      1.71
             BOR=>                                     
 Note: FRA   are for ask prices                                
 quotes                                                
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 (Reporting by Alan Charlish in Warsaw, Robert Muller in Prague;
writing by Radu Marinas; Editing by Alexander Smith)
  
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