WARSAW, Nov 15 (Reuters) - Central Europe's currencies

were a touch stronger on Friday with investors repositioning

after the dollar strengthened in reaction to Donald Trump's

victory in last week's U.S. presidential election.

Emerging market currencies have been under pressure since

the election as the dollar strengthened on expectations that

Trump's tariff and immigration policies could push up inflation,

limiting the scope for U.S. interest rate cuts.

Tariffs could also be a blow to central Europe's more

export-dependent economies.

"In our view, the markets are still repositioning after the

U.S. election, when the market was generally short in these two

CEE currencies (zloty and forint) in particular. But at the same

time we see a lag behind EUR/USD sliding lower," ING said in a

note.

"The rates market is pricing in new rate cuts but the rate

differential is not changing much given the move in core rates.

We therefore remain bearish on the CEE region here."

The Hungarian forint was up 0.2% at 405.50 per

euro at 0932 GMT, while Poland's zloty rose 0.14% to

4.3180.

Analysts said investors would be watching Friday's retail

sales and industrial output data from the U.S. which may

influence the dollar later in the day.

"The zloty is strengthening and will again attempt to go

down to the level of 4.31 (per euro)," Bank Millennium analysts

wrote in a note.

Markets did not react to Polish CPI data published on

Friday, which showed annual headline inflation at 5.0% in

October, in line with a flash reading.

The Czech crown edged up 0.14% to 25.2640 to the

euro.

Some Czech central bank board members viewed a weaker crown

exchange rate outlook as an inflationary risk, with

vice-Governor Eva Zamrazilova calling it a reason to put the

bank's rate-cutting process on hold, minutes from the last

policy meeting showed on Friday.

CEE SNAPSHOT AT

MARKETS 1032

CET

CURRENCIES

Latest Previo Daily Change

us

trade close change in 2024

Czech 0

Hungary 00

Polish Romania Serbian 00

Note: calculated from 1800 CET

daily

change

Latest Previo Daily Change

us

close change in 2024

Prague 1674.00 1669.2 +0.29% +18.39

000 %

Budapes 77878.58 77766. +0.14% +28.47

t 32 %

Warsaw 3

Buchare 17630.98 17674. -0.24% +14.70

st 07 %

Spread Daily

vs Bund change

in

Czech spread

Republi

c

0

0

Poland

0

0

0

FORWARD RATE

AGREEMENTS

3x6 6x9 9x12 3M

interba

nk

Czech Hungary Poland Note: are for ask prices

FRA

quotes

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