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Wednesday, 6 June 2012

2012.06.06 09:55:10 MARKET TALK: Emerging-Market Currencies Open Slightly Stronger

0755 GMT [Dow Jones] Emerging-market currencies open slightly stronger as London traders return to their desks after the extra long holiday weekend. Ahead of the ECB meeting at 1145 GMT, ZAR, TRY, HUF and CZK are trading at much firmer than on Friday, when emerging-market currencies took a battering after some shockingly bad euro-zone and UK PMIs. PLN is especially looking much stronger ahead of the Polish central bank's rate-setting meeting later Wednesday. The consensus is for no change to the interest rate because of soaring inflation in Poland and the big depreciation of the zloty over the last couple of months. USD/ZAR is at 8.399, USD/TRY is at 1.8401, EUR/HUF is at 300.38, EUR/CZK is at 25.57 and EUR/PLN is at 4.3451. (alexandra.fletcher@dowjones.com) Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com (END) Dow Jones Newswires June 06, 2012 03:55 ET (07:55 GMT)

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