Currency markets took a break on Friday from the turbulence of recent sessions as some semblance of calm returned to global equity markets.

Most notably, the emerging market currencies that had seen unprecedented levels of volatility on Wednesday and Thursday recovered some poise.

Currencies like the South Korean won and Hungarian forint had all suffered this week as foreign investors pulled their money out of developing regions and those countries with high current account deficits.

But Hans Redeker at BNP Paribas said on Friday that risk takers were again showing themselves.

"The International Monetary Fund shows readiness to intervene in Ukraine and probably Hungary, making it clear that it stands ready to rescue other emerging market countries," He said.

The won reclaimed 2.6 per cent against the dollar to Won1,333.30, having lost as much as 10.9 per cent on Thursday. The Hungarian forint rose 2 per cent against the dollar to Ft199.70 and by 0.4 per cent against the euro to Ft268.15.

Conversely, the dollar gave back some of its gains of the recent session, falling 0.1 per cent against the pound to $1.7332 and by 0.9 per cent against the yen to Y100.73.

The euro, however, was weaker, falling 0.4 per cent to $1.3430 as trade data showed a picture of weakening European exports.

"Eurozone exporters look to face difficult times ahead and this adds to the increasingly worrying outlook for the Eurozone economy," said Howard Archer at Global Insight

The euro fell 0.3 per cent to £0.7750 against the pound and was down 1.2 per cent against the yen to Y135.38.