“To convince the market in the long term, all ECB members have to pull together. There will likely be occasional swings, but these will lead back to USD strength,” Moritz Paysen, forex and rate adviser at Berenberg, said in a research note.
The project is a collaboration between the Ministry of Electricity, the General Authority for Suez Canal Economic Zone, or SCZONE, and the Sovereign Fund of Egypt, according to a statement. The project will be located at the Suez Canal Economic Zone.