They allow their currencies to weaken steadily against a basket of euros and dollars the Polish zloty within wide bands, the Hungarian forint within narrow ones.

ECONOMIST: Central Europe

The Hungarian forint was also in focus, sinking to its lowest-ever level as the euro surged to 320 forints after Hungary canceled a bond exchange auction, citing insufficient bids.

WSJ: European Stocks Decline

The Hungarian forint certainly looks a little shaky.

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The Hungarian forint declined against the euro.

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The Hungarian forint, which moves in a band either side of a central rate against the euro, is trading within a whisker of its upper limit, even after a cut of three-quarters of a point on February 21st.

ECONOMIST: A headache for a region's central bankers

As the eurozone debt crisis has unfolded, official figures showed that the Hungarian government's total debt had risen to 82% of its output, as its currency, the forint, has weakened.

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