But that the waters of the river are turned into blood is fitted suitably enough. First indeed, so that that river, to which they had handed over the little ones of the Hebrews by cruel slaughter, might render to the authors of the crime a cup of blood, and that by drinking they might feel the gore of the polluted flood, which they had stained with parricidal killing. Then next, so that nothing might be lacking to the allegorical laws also, the waters are turned into blood and its own blood is given to Egypt to drink. The waters of Egypt are the wandering and slippery doctrines of the philosophers; because these have deceived all who are little ones in perception and children in understanding, when the cross of Christ showed the light of truth to this world, they are required to pay the penalties of their slaying and the guilt of blood. For thus also the Lord himself says that: "all the blood which has been shed upon the earth, from the blood of Abel the just unto the blood of Zachariah, shall be required of this generation".
Source: HOMILIES ON EXODUS 4