By Boldizsar Gyori

BUDAPEST, May 30 (Reuters) -Hungary's forint slipped further on Thursday after scaling a four-month high earlier this week, pressured by gains in the dollar amid a general weakening in risk appetite that hurt central European currencies.

The forint, central Europe's worst-performing currency this year, fell to a three-week low in early trade before rebounding to 388.5 per euro by 0734 GMT.

The currency lost more than 1% in the past two days as the dollar strengthened and investors turned cautious ahead of a credit rating review by Moody's due on Friday.

"Although we don't expect a change, some investors are curbing their exposure and prepare should Moody's say something negative on Hungary," a local trader said.

"The dollar's comeback after its recent losses hurt emerging markets. I expect the forint to return trading closer to 385 at the beginning of next week," the trader added.

Shares in OTP Bank OTPB.BU were little changed in morning trade after the Hungarian central bank told central Europe's largest independent lender to curb its Russian exposure further and take several precautionary measures.

The Czech crown EURCZK= traded at 24.76, below the psychological level of 25.

"We still haven't heard much from the Czech National Bank after the surprise rise in inflation in April, and so the markets are probably waiting for more guidance," economists at ING said.

Reporting by Boldizsar Gyori in Budapest; Editing by Sriraj Kalluvila

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