MARKET TALK: Emerging-Market Currencies Hold Onto Gains

Emerging-market currencies hold onto gains in European trading, helped by upbeat global market sentiment. HUF, PLN and CZK all nudge higher against EUR, while ZAR firms against USD. "There are still some significant global risks to watch, however, including the implementation risks of the Greek deal, the market response to the ECB's LTRO next week, and the rising oil prices," says Societe Generale. In emerging markets, Colombia's interest-rate decision will be IN focus Friday, particularly since the central bank surprised markets last month with a rate increase. EUR/PLN currently trades at 4.1653, compared with 4.1675 late Thursday in New York; EUR/CZK trades at 24.991, versus 25.035; EUR/HUF trades at 288.60, compared with 288.88; USD/ZAR trades down at 7.5914; and USD/COP trades at 1776.7