CEE MARKETS 3-FX mixed, output data fails to support zloty

                                
 * Hungarian forint firmer ahead of rate meeting
                                
 * Zloty shrugs off solid output data
                                
 * Romania pays higher yield at bond tender, seen positive
                                
 
 (Updates throughout)
                                
 By Luiza Ilie and Dagmara Leszkowicz
                                
 BUCHAREST/WARSAW, Feb 18 (Reuters) - The Czech crown hovered
around a one-month low on Friday while the Polish zloty fell
slightly despite solid industrial output data.
                                
 Dealers said central and eastern European currencies have
been also driven by the euro -- the region's main reference
currency -- which jumped on an ECB policymaker's comment that 
bank would be ready to raise interest rates as needed to counter
inflationary pressures and expectations. [ID:nLDE71H1DZ]
                                
 Poland's statistics office data showed industrial output
rose at a double-digit rate for the third month running but
analysts said the data did not change the interest rate outlook
for the coming months. [ID:nLDE71H1H3]
                                
 "The data should not significantly change expectations for
the Monetary Policy Council's decision in March... We expect an
interest rate increase in March of 25 basis points and further
increases in the coming months," said Rafal Benecki, senior
economist at ING Bank in Warsaw.
                                
 Dealers, however, say they did not expect the currency to
rise significantly further on.
                                
 "The zloty is definitely under pressure now and it's the 
euro that keeps it at the current level now," said one
Warsaw-based dealer.
                                
 By 1624 GMT the zloty <EURPLN=> was 0.2 percent weaker,
traded at 3.915. The Czech crown <EURCZK=> fell some 0.7
percent, hovering around its one-month low with dealers citing
two banks buying EURCZK.
                                
 
                                
 RATES IN FOCUS
                                
 Other currencies were a touch stronger, with Hungary's
forint <EURHUF=> up some 0.1 percent and Romania's leu <EURRON=>
rising 0.3 percent against the common currency.
                                
 The forint has risen faster than its peers this year on
hopes a government fiscal plan will strengthen public finances
but delays in unveiling the details, and signs that monetary
tightening could be over, have raised some concerns recently.
                                
 Analysts polled by Reuters earlier this week forecast the
National Bank of Hungary (NBH) will keep rates on hold at its
meeting on Monday, after three quarter-point hikes since
November. [ID:nLDE71F2ML]
                                
 In Romania, the finance ministry paid the highest yield
since early last year, 7.35 percent, at a 10-year bond tender on
Thursday, which analysts said was a positive sign after debt
managers capped yields for most of 2010. [ID:nBUC003858]
--------------------------MARKET SNAPSHOT--------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2011 
Czech crown      <EURCZK=>  24.455   24.288   -0.68%   +2.23%
Polish zloty     <EURPLN=>   3.915    3.908   -0.18%   +1.1%
Hungarian forint <EURHUF=> 269.75   270.1     +0.13%   +3.05%
Croatian kuna    <EURHRK=>   7.407    7.407       0%   -0.36%
Romanian leu     <EURRON=>   4.238    4.249   +0.26%   -0.12%
Serbian dinar    <EURRSD=> 103.24   103.36    +0.12%   +2.6%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
2-yr T-bond   CZ2YT=RR    -23 basis points to  33bps over bmk*
7-yr T-bond   CZ7YT=RR    -7 basis points to  +79bps over bmk*
10-yr T-bond   CZ9YT=RR    -4 basis points to  +82bps over bmk*
Polish treasury bonds <0#PLBMK=>
2-yr T-bond   PL2YT=RR    -6 basis points to  +373bps over bmk*
5-yr T-bond   PL5YT=RR    -5 basis points to  +344bps over bmk*
10-yr T-bond PL10YT=RR    -6 basis points to  +303bps over bmk*
The P
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR    -4 basis points to  +516bps over bmk*
5-yr T-bond   HU5YT=RR    -7 basis points to  +477bps over bmk*
10-yr T-bond   HU10YT=RR  -6 basis points to  +421bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 1624 CET.
Currency percent change calculated from the daily domestic 
close at 1600 GMT.
                                
 For related news and prices, click on the codes in brackets:
All emerging market news [EMRG]
Spot FX rates
Eastern Europe spot FX <EEFX=>    Middle East spot FX <MEFX=>
Asia spot FX <ASIAFX=>       Latin America spot FX <LATAMFX=>
Other news and reports  
World central bank news [CEN]  Economic Data Guide <ECONGUIDE> 
Official rates [GLOBAL/INT]  Emerging Diary [EMRG/DIARY] 
Top events [M/DIARY]  Diaries [DIARY] Diaries Index [IND/DIARY]
 
 (Reporting by Reuters bureaus; Editing by Catherine Evans/Ruth
Pitchford)