Financial unrest impactsurea markets further

摘要

A weak euro that has lost about 7% of its value against the USdollar since the end of August is causing headaches forEuropean importers. Further deterioration is not inconceivableas financial unrest spreads. Prices in euros in local marketshave not absorbed the drop in the value of the Europeancurrency to date. The gap between asking prices from dollar-based suppliers such as Egypt and domestic pricing in keymarkets such as France widened accordingly andnecessitated price-cuts in Egypt.