MENA FX: Assessing The Impact Of Euro Weakness

We have warned of downside risks to a number of North African currencies for several months now (see 'Dollar Strength: Key Implications For MENA FX,' February 5 2010; 'EGP: Short-Term Downside Risks,' April 7 2010). We see further weakness ahead for these units on the back of ructions in Europe.

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