The analysts said hopes that regional economies will slowly recover would support their currencies, but that fears the tide of central bank money lifting global markets will ebb are likely to limit gains.

The median of the 33 analyst forecasts in the poll sees the zloty gaining 6.8 percent against the euro over the next year compared with its end-May levels.

The zloty has led a retreat of Central European currencies after strong gains last year, shedding 4 percent since 2012.

The leu, the region's best performer in 2013, is seen firming 2.1 percent in the next 12 months, the Czech crown 1.2 percent and the forint 0.2 percent.

Europe's emerging east led emerging market currencies higher last year as big central banks pumped cheap money into markets to help economic recovery. They weakened last month, however, as investors interpreted comments from U.S. central bank policymakers as signalling it could slow its monetary stimulus.

U.S. investors have been the main financiers of emerging markets asset rises.

UBS said in a May 29 note that a basket of 20 emerging market currencies fell 2.7 percent to the dollar in annual terms and the weakness could be lasting as demand for their exports, productivity growth, and interest rates were too low.

Central banks in emerging Europe have been cutting interest rates, but Polish government bond yields of around 3 percent and Hungarian yields of around 5 percent are still drawing demand.

"A recent break (zloty fall) out of the 10-month range paves the way for more volatility in the coming weeks and possible new highs above 4.30 (to the euro)," said Dorota Strauch, a Raiffeisen analyst in Warsaw.

"Our medium term expectations however do not change and we forecast a gradual appreciation of the zloty driven by economic recovery in the euro zone and Poland."

FORINT OUTLOOK HARMED

Analysts continue to see a level of 4.0 zlotys to the euro in 12 months' time, unchanged from a poll a month ago.

Worries about stimulus withdrawal have had more impact on forecasts for the forint, which has been more sensitive to global risk appetite. It is seen trading at 295 to the euro in a year from now, compared to 290 forecast a month ago.

"Still, there may be periods in the year ahead when the forint outperforms the region," said David Nemeth, analyst at K&H Bank in Budapest.

He said the forint could get occasional boosts against other units in the region from economic data, as fiscal discipline in Hungary has proved strong and its economic performance is unlikely to decline further.

Hungary's central bank has cut base rates by 25 basis points 10 times since August and markets have priced in successively lower levels for the bottom of the cycle.

In the Czech Republic where interest rates are near zero, concern over central bank intervention against the crown remains the main issue as the economy struggles with recession.

"Risks for the currency arise particularly from potential MPC (central bank) actions aimed at preventing excessive appreciation," said Piotr Poplawski of Bank BGZ in Warsaw.

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(Reporting by Sandor Peto; Editing by Catherine Evans)

By Sandor Peto