US Dollar nears two-week high amid Fed hawkishness and Egyptian Pound fluctuations

The US Dollar has stabilized near a two-week high, driven by hawkish comments from Federal Reserve Chair Kevin Warsh. Warsh indicated that further monetary tightening may be necessary if inflation does not consistently move toward the 2% target. These remarks have increased market bets on a potential interest rate hike in September.

In Egypt, the US Dollar has shown fluctuations against the Egyptian Pound. By the end of August 2026, rates remained relatively stable across various banks, with the Central Bank of Egypt recording rates around 50.45 EGP for purchase and 50.59 EGP for sale. However, by September 1, 2026, the dollar saw upward movement, surpassing the 51 EGP mark at several institutions, including Abu Dhabi Islamic Bank, which recorded a purchase rate of 51.04 EGP.