WARSAW, June 22 (Reuters) - The Polish and Czech currencies edged lower on Monday, while the forint held near recent multi-year highs before an expected rate cut in Hungary, as investors assessed early talks between the U.S. and Iran aimed at ending fighting in the Middle East.

The first round of talks between high-ranking U.S. and Iranian officials in Switzerland ended Monday, mediators said, after a tense opening marked by Tehran's announcement it had again closed the Strait of Hormuz and U.S. President Donald Trump repeating his threats to resume attacks on Iran.

ING analysts said they expected post-Fed comments from U.S. rate setters and developments on flows through the Strait of Hormuz to drive currencies this week, with possible further firming of the dollar.

"The combination of a stronger dollar and higher yields in core markets creates a less favorable environment for CEE currencies," Polish state-run development bank BGK analysts said.

The Polish zloty EURPLN= slipped 0.2% against the euro to 4.2665, its lowest in more than two months, as rate hike expectations dissipated.

ING analysts pointed to several Polish rate setters who have said recently that interest rates would likely stay on hold until the end of the year and also significant easing of market expectations of any rate hikes, as reflected in forward rate agreements.

Data on Monday showed Polish May real retail sales growth below expectations, while wage growth was also lower than forecast. Both metrics are monitored by the central bank as inflation drivers.

The National Bank of Poland has held its base rate steady at 3.75% since March, when it voted for a 25 basis-point trim, and has signalled a wait-and-see approach amid elevated uncertainty coming from the war in the Middle East.

HUNGARIAN INTEREST RATES

Hungary's central bank is expected to trim its base rate by 25 basis points to 6.00% on Tuesday, as the forint's surge and a decline in inflation and global market risks give the bank room to cut, a Reuters poll showed on Friday.

The Hungarian forint EURHUF= held largely steady against the euro at 352, off the more than 4-1/2 year high of 348.60 it hit last week.

ING analysts said the currency may ease further after the National Bank of Hungary meeting.

Meanwhile the Czech crown EURCZK= edged 0.06% lower to 24.20 per euro.

The Czech National Bank hiked interest rates last week but said it would keep all options open going forward. Many analysts have said it could be a one-off hike.

"At this point, we lean toward a stability of rates scenario for the remainder of the year," Erste Group Bank said in a note on Monday.

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