By Jason Hovet

Prague, Jan 9 (Reuters) - Central Europe's Currencies Are Facing Another Step Down in 2025, With a Strong U.S. Dollar and Economic Risks Leading to Losses of 0.5%-1.7% This Year, a Reuters Poll Showed on Thursday.

Markets Are Bracing for Some Volatility After U.S. President-Elect Donald Trump Takes Office Again, With the Threat of U.S. Tariffs Hanging Over Europe and Especially Central Europe's Car Sector-Heavy Economies.

A Firmer U.S. Dollar Will Also Continue to Weigh on the Region, Hitting Appetite for Riskier Emerging Market Assets.

"Given This Backdrop, We Expect Cee Currencies to Weaken Together With the Euro in 2025. Additionally, Rate Differential and Valuation Tailwinds Should Fade in 2025," Goldman Sachs Said.

According to the Poll, Hungary's Forint - Whose More Than 6% Loss in 2024 Far Outpaced the Drop of Other Currencies in the Region as Well as Analyst Forecasts a Year Ago That Predicted Only a 1.4% Loss - Should Largely Tread Water in the First Half of This Year Before Fading Towards the End.

The Median Forecast in the Poll Put the Forint Eurhuf= at 420 to the Euro at Year-End, Down 1.0% From Tuesday's Closing Levels. the Forint, Which Hit a Two-Year Low of 416.50 Last Month, Has Not Traded for Less Than the Psychologically Significant 400 per Dollar Since September.

Similarly, the Czech Crown Eurczk= Has Little Space for Gains and Was Seen Largely on the Weak Side of the 25 per Euro Level It Fell Past in September. the Median Forecast Saw a 0.5% Fall in 12 Months, to 25.239.

Both the Hungarian and Czech Central Banks Were the Most Aggressive in Cutting Interest Rates in 2024 but Paused Those Cycles at the End of Last Year. However, Analysts See Chances of More Cuts This Year.

In Poland, the Zloty Eurpln= Should Lose Around 1.3% to 4.32 to the Euro by the End of the Year, but Is Starting From a Higher Base Than Its Peers After It Was the Only Regional Currency to Post Gains Last Year With a 1.5% Rise.

It Has Traded at Its Strongest Level Since 2020 to Start the Year, Hitting 4.246 to the Euro This Week.

"in H1 2025, Pln Will Face a Confluence of Factors, Including Debates About the Timing & Magnitude of Nbp Rate Cuts and the Presidential Elections Domestically, and the Start of Trump's Term Externally," RBC Said.

"the Outcome Will Carry Implications for Policy Certainty."

Central Europe's Most Stable Currency, the Romanian Leu Eurron=, Could Face Renewed Weakening in 2025, Analysts Say, as Inflation Slows and Policymakers, Who Keep the Currency in a Managed Float Regime, Show More Flexibility.

Last Year Was the Most Stable for the Leu on Record, Mufg Bank Analysts Said.

"the Price Action Suggests That the Leu Has Been Even More Tightly Controlled Over the Past Year."

The Poll Saw the Leu Falling 1.7% This Year to 5.0575 per Euro.

(Other Stories From the January Reuters Foreign Exchange Poll)

(Reporting by Jason Hovet; Polling by Indradip Ghosh and Mumal Rathore; Editing by Hugh Lawson)

((Jason.hovet@Thomsonreuters.com))