CAIRO-- Egypt's currency seems unlikely to rebound substantially from 3-1/2 year lows any time soon because investor appetite for Egyptian assets may be blunted by uncertainty before a 2011 election -- and the central bank may prefer a weaker pound. The Egyptian pound EGP= has marked a series of lows against the dollar in the past two weeks, partly because of a firmer dollar globally as weakness in the U.S. economy prompts safe-haven flows into U.S. Treasuries. Last Thursday, the pound fell as low as 5.7056 after touching 5.7057 on Tuesday, its lowest level since January 2007. Some analysts argue the pound is unfairly undervalued since Egypt's economic growth is ticking higher and fund inflows from abroad have been recovering, while the central bank may start leaning towards raising interest rates late this year as the risk of inflation grows.