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Egypt Currency Flexibility Still in Doubt After Huge Selloff

  • Nomura’s model finds Egypt is at risk of currency crisis
  • Egypt devalued pound in October, signaled shift to flexibility
Egyptian pounds and US dollars banknotes.
Egyptian pounds and US dollars banknotes.

Photographer: Khaled Desouki/AFP/Getty Images

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Egypt’s newly flexible currency is still too tame for a market that’s bracing for more disruption ahead.