Probably. On the one hand, Egypt's fiscal imbalances and domestic recovery are putting pressure on inflation and widening the (already massive) trade deficit. On the other hand, massive support from the Gulf in terms of worker remittances and big-ticket FDI project inflows are keeping the external position in check and the pound stable for now. And the combination of a stable currency and 20%-ish onshore rates continues to be the most profitable carry trade in EM ... so here we still sit.