PRAGUE, Nov 25 (Reuters) - Hungary's forint recovered

from nearly two-year lows on Monday, while Romania's leu was

steady as weekend polls unexpectedly sent a hard-right NATO

critic and centre-right opposition party leader into a

presidential run-off vote.

Currencies, under pressure in recent months, got some relief

from a U.S. dollar pullback after the pick for the next U.S.

Treasury secretary seemed to reassure the bond market about

fiscal discipline.

The forint has fallen to its lowest levels since the end of

2022 as a strong dollar hits emerging market assets, tensions in

the Ukraine-Russia war rise, and the Hungarian economy sputters.

Last week, Hungary's central bank left its base rate steady

at the European Union's joint highest level of 6.50% as the

weakened forint leads it to pause a rate-cutting drive.

The forint has been central Europe's worst performer this

year, with a 7% fall against the euro, the region's main

reference currency, and some analysts have said a further drop

could cause rate hikes to be considered.

"We think that a level such as 420.0 or 425.0 in EUR-HUF

might well force the central bank's hand in this regard,"

Commerzbank said.

The forint had inched up 0.05% on the day to

411.75 to the euro by 1016 GMT after nearing its 23-month low of

412.50 earlier in the session.

Other currencies also edged higher, with the Czech crown

and Polish zloty both gaining 0.1%.

A round of Polish data is due this week, starting with a

stronger-than-expected rise in industrial output published on

Monday.

"The forecast consensus (this week) does not set the bar too

high for the Polish economy," Bank Pekao said ahead of the

release.

"A negative surprise (this week) will not change

expectations regarding monetary policy - the next cut will not

occur until March 2025, which is quite a distant date - but it

may take some of the enthusiasm away from investors for Polish

assets this week."

In Romania, the leu took first-round presidential

election results in stride, trading at 4.977 to the euro.

Hard-right candidate Calin Georgescu and centre-right

contender Elena Lasconi were set to face each other in a run-off

vote threatening Romania's staunchly pro-Ukraine stance.

CEE SNAPSHOT AT

MARKETS 1116

CET

CURRENCIES

Latest Previo Daily Change

us

trade close change in 2024

Czech 0

Hungary 00

Polish Romania Serbian 00

Note: calcula 1800 CET

daily ted

change from

Latest Previo Daily Change

us

close change in 2024

Prague 1700.54 1697.3 +0.19% +20.26

500 %

Budapes 79705.05 79551. +0.19% +31.48

t 80 %

Warsaw 6

Buchare 16818.27 17134. -1.85% +9.41%

st 54

Spread Daily

vs Bund change

in

Czech spread

Republi

c

0

0

Poland

0

FORWARD RATE

AGREEMENTS

3x6 6x9 9x12 3M

interba

nk

Czech Hungary Poland Note: are for

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