The shekel is gaining ground against both the dollar and euro in inter-bank trading today.
The shekel continued to strengthen against the dollar and euro in morning inter-bank trading today. The shekel-dollar exchange rate fell 0.28%, compared with yesterday's representative rate, to NIS 3.986/$, and the shekel-euro exchange rate fell 0.21% to NIS 4.93/€.
Atrade says that the better-than-expected GDP growth figures in China will favorably affect the European market, which means that the dollar will likely weaken, especially against currencies with high interest rates, such as the Australian dollar, New Zealand dollar, and Canadian dollar. The dollar-euro exchange rate will again try to test the $1.24/€.
Published by Globes [online], Israel business news - www.globes-online.com - on August 9, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012