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The Downfall of the Egyptian Pound/USD/EURO

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Last December the euro had fallen off in the past 3 years by almost 23% against the US Dollar, and early last month traded for about 1.0339$ that’s the lowest it had been at since 14 years but however with the newest president of the USA Donald trump’s trade advisor making quite the controversial comment about the euro saying that Germany is using the grossly undervalued Euro to gain advantage over America, the euro climbed up to 1.0764$ knocking over the US Dollar by almost 0.4% for the first time in over five days.

The Downfall of the Egyptian Pound/USD/EURO
The Egyptian pound’s current state is not looking very good at the moment after President Abdel-Fatah Al-Sisi decided that is necessary for the Egyptian pound to be put in the state of floating the exchange rate. The Egypt pound has been knocked over quite hard by the US Dollar trading for about 19 Egyptian Pounds per one US Dollar and 20 Egyptian pounds per one Euro as well as being knocked over by other major currencies such as the pound sterling, trading for 23 Egyptian pounds per 1 Pound sterling

The pound sterling has dropped down early this morning from its highest performances as early as Weetabix announced that they would have to raise the overall prices in 2017 due to the constant downfall of the Pound Sterling.

The US Dollar and Pound sterling exchange rate had also advanced under trump’s administration in addition to the pressure the pound sterling was put under during the post-Brexit economic state at the moment, where the USD/GBP exchange rate jumped down from 0.8080 to 0.7967 last week breaking its three-decade high of 0.8080 exchange rate.

The British pound has also had another downfall early last Friday afternoon despite the current low demand the US Dollar as the UK Markets took profit of Sterling pound’s weekly profits before the end of the week’s European session—Investors are currently between anxious and worried about the soon-to-be meeting of the UK Prime Minister Theresa May with the new President of the USA, Donald Trump which will surely affect more on the exchange rate between the two countries.

The GBP/EURO exchange has also slightly been knocked over due to the constant pressure of post-Brexit economical state where the exchange rate of the Pound sterling and Euro slide off for what estimated to be around half a cent this morning following the publishing of the UK government’s bill to invoke Article 50.

The British pound sterling and New Zealand pound exchange advanced early Thursday afternoon as well although both of them failed to maintain their all-time weekly high as seen this morning, the New Zealand pound relatively weakened on Thursday as risk-seeking traders are becoming anxious


As President Trump’s current performance is slightly declining with a couple of economical warnings on the way, the USD Dollar and the Japanese Yen exchange rate had kept its current firm state.

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