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CEE MARKETS-Currencies, stocks drift ahead of Fed policy announcement

Anita Komuves

By Anita Komuves BUDAPEST, Sept 16 (Reuters) - Most Central European currencies and stock markets moved sideways on Wednesday, a day after the Polish central bank left its rates unchanged, and as investors awaited the outcome of the U.S. Federal Reserve's policy meeting. The zloty edged up 0.07%, trading at 4.4530 versus the euro a day after Poland's central bank decided to leave its benchmark interest rate unchanged at 0.1%, as expected. The bank said that it saw the economic recovery continuing in the coming months, but that its scale may be limited by the Polish zloty's lack of exchange rate adjustment to the effects of the global pandemic. "While NBP may not be about to take any concrete policy steps to weaken the exchange rate, it is clear which direction it would prefer," Commerzbank said in a note. "The MPC remark acts as a deterrent to long zloty positions." Elsewhere, the Hungarian forint slipped 0.29% and was trading at 358.90 to the euro. "It is a correction, the currency has been strengtening recently and now it retreats a bit in today's thin trade," an FX trader in Budapest said. The Czech crown was steady on Wednesday after hitting a two-month low in the previous session, edging down 0.03% and trading at 26.769 per euro but could remain under pressure due to a rise in novel coronavirus cases. The Czech Republic's daily count of new coronavirus cases rose to 1,677 on Tuesday, the highest on record. The country has seen one of Europe's largest surges in new coronavirus cases in recent weeks. "Sentiment remains poor in view of the current situation with coronavirus," Komercni Banka said in a morning note. The Czech central bank's Vice-Governor Tomas Nidetzky told Bloomberg that the quickening spread of COVID-19 was making the central bank's regular forecast seem "rather optimistic". Nidetzky also said that the bank should keep its benchmark rate steady just above zero for at least a year before considering any tightening. CEE SNAPSHO AT MARKETS T 1100 CET CURRENC IES Latest Previous Daily Change bid close change in 2020 EURCZK= Czech <EURCZK= 26.7690 26.7600 -0.03% -4.99% crown > EURHUF= Hungary <EURHUF= 358.900 357.8600 -0.29% -7.73% forint > 0 EURPLN= Polish <EURPLN= 4.4530 4.4560 +0.07 -4.42% zloty > % EURRON= Romanian <EURRON= 4.8595 4.8576 -0.04% -1.47% leu > EURHRK= Croatian <EURHRK= 7.5395 7.5360 -0.05% -1.25% kuna > EURRSD= Serbian <EURRSD= 117.550 117.5800 +0.03 +0.02% dinar > 0 % Note: calculated from 1800 daily CET change Latest Previous Daily Change close change in 2020 .PX Prague 898.84 898.3300 +0.06 -19.43% % .BUX Budapest 34214.8 34248.86 -0.10% -25.75% 0 .WIG20 Warsaw 1743.00 1743.93 -0.05% -18.93% .BETI Buchares 9305.20 9401.96 -1.03% -6.74% t .SBITOP Ljubljan <.SBITOP 847.66 847.22 +0.05 -8.45% a > % .CRBEX Zagreb 1614.80 1617.08 -0.14% -19.96% .BELEX1 Belgrade <.BELEX1 688.22 690.55 -0.34% -14.15% 5 5> .SOFIX Sofia 429.63 430.66 -0.24% -24.38% Yield Yield Spread Daily (bid) change vs change Bund in Czech spread Republic CZ2YT=R 2-year <CZ2YT=R 0.1800 -0.0250 +087b -3bps R R> ps CZ5YT=R 5-year <CZ5YT=R 0.5930 -0.0750 +128b -8bps R R> ps CZ10YT= <CZ10YT= 1.0360 -0.0440 +152b -5bps RR 10-year RR> ps Poland PL2YT=R 2-year <PL2YT=R 0.0690 0.0080 +076b +1bps R R> ps PL5YT=R 5-year <PL5YT=R 0.6800 -0.0190 +136b -2bps R R> ps PL10YT= <PL10YT= 1.3760 0.0050 +186b +0bps RR 10-year RR> ps FORWARD 3x6 6x9 9x12 3M interba nk Czech 0.35 0.35 0.38 0.34 Rep <PRIBOR= > Hungary 0.74 0.78 0.82 0.63 Poland 0.23 0.20 0.20 0.23 Note: are for ask FRA prices quotes ********************************************* ***************** (Additional reporting by Jason Hovet in Prague; editing by Emelia Sithole-Matarise)