CEE MARKETS 2-FX dip as stocks retreat, Hungarian bonds firm

                                
 * Zloty leads small retreat, stocks fall
                                
 * Crown steadies after slip following cbank resignation
                                
 * Hungarian bonds rally more, yields at new lows
                                
 
  (Adds bonds, updates prices)
                                
 By Jason Hovet
                                
 PRAGUE, April 16 (Reuters) - Central European currencies
dipped on Friday as stocks gave up gains amid rising risk
aversion, but longer-dated Hungarian bonds outperformed and
yields dropped to new 4-1/2 year lows.
                                
 Emerging European stocks <.WIG20> <.PX> <.BUX> have shot up
this week to levels last seen at the start of the financial
crisis -- lending support to currencies that have strongly risen
this year -- but fell on Friday with global shares.
                                
 "Stocks are down, U.S. jobless data were poor and investors
are also looking at Greece. Risk is off the table today," said
one trader in Bucharest.
                                
 By 1000 GMT, the Polish zloty <EURPLN=> led losses, falling
0.3 percent to 3.87 to the euro. Romania's leu <EURRON=> lost
0.1 percent, while Hungary's forint <EURHUF=> and the Czech
crown <EURCZK=> held mostly steady.
                                
 The euro, central Europe's main reference currency, fell on
growing doubt over Greece's ability to service its debt.
[ID:nLDE63E0HN]
                                
 Debt-strapped Greece asked on Thursday for official talks
with European authorities and the International Monetary Fund, a
step toward obtaining billions of euros in emergency loans if
needed.
                                
 Central European currencies often track moves in
euro/dollar, although the correlation has been broken often this
year as the region's better growth prospects and sounder fiscal
positions compared to euro zone periphery countries attract
investors.
                                
 
                                
 CROWN STEADIES
                                
 The Czech crown held around 25.16 to the euro after a
retreat from the psychological 25 per euro level this week. It
had dipped on Thursday after central bank Governor Zdenek Tuma
announced he was leaving his post early to reduce a lengthy
period of speculation about his successor. [ID:nLDE63E1C2]
                                
 Two central bank vice-governors were seen as the top
candidates to replace him. 
                                
 "Despite (Tuma's) resignation, we think that the impact on
the Czech markets will be rather short-lived and limited,"
Danske Bank said. "We remain fundamentally bullish on the CZK in
both the short and long term."
                                
 Hungarian bonds rallied more on the long end on Friday on
expectations of lower interest rates and tight domestic supply.
Yields on the 10-year bond dropped 6 basis points to 6.33
percent.
                                
 Markets there also cheered this week a strong election win
for the centre-right Fidesz party, which before the run-off vote
on April 25 is close to getting a two-thirds majority to drive
through reforms.
--------------------------MARKET SNAPSHOT--------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2010 
Czech crown      <EURCZK=>   25.164   25.155  -0.04%   +4.59%
Polish zloty     <EURPLN=>    3.87     3.86   -0.26%   +6.05%
Hungarian forint <EURHUF=>  262.81   263.00   +0.07%   +2.87%
Croatian kuna    <EURHRK=>    7.258    7.255  -0.04%   +0.71%
Romanian leu     <EURRON=>    4.141    4.136  -0.12%   +2.33%
Serbian dinar    <EURRSD=>   99.15    99.02   -0.13%   -3.3%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
3-yr T-bond   CZ3YT=RR   +11 basis points to  64bps over bmk*
7-yr T-bond   CZ7YT=RR   +10 basis points to  +66bps over bmk*
10-yr T-bond   CZ10YT=RR   +2 basis points to  +52bps over bmk*
Polish treasury bonds <0#PLBMK=>
2-yr T-bond   PL2YT=RR   +3 basis points to  +346bps over bmk*
5-yr T-bond   PL5YT=RR   +2 basis points to  +288bps over bmk*
10-yr T-bond PL10YT=RR   +2 basis points to  +241bps over bmk*
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR   +7 basis points to  +418bps over bmk*
5-yr T-bond   HU5YT=RR    -1 basis points to  +356bps over bmk*
10-yr T-bond   HU10YT=RR  -4 basis points to  +322bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 1204 CET.
Currency percent change calculated from the daily domestic 
close at 1600 GMT.
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 (Reporting by Reuters bureaus, writing by Jason Hovet, editing
by Susan Fenton)