FXCM: If Fischer's successor is a 'big name', this will give the shekel a further push.
The shekel has strengthened against the dollar and euro in morning inter-bank trading today. The shekel-dollar exchange rate has fallen 0.14%, compared with Friday's representative rate, to NIS 3.596/$, and the shekel-euro exchange rate has fallen 0.15% to NIS 4.794/€.
In international markets, the dollar is traded at $1.33/€ against the euro and strengthened against the yen to ¥94/$.
FXCM Israel said in its daily market review today, "A critical week is expected in shekel-dollar trading, at least for the short-term trend. Last week, the shekel-dollar exchange rate tried to recover, but was blocked at around NIS 3.65/$ and it began to fall again to a low of NIS 3.592/$." It adds, "If Fischer's successor is a 'big name', this will give the shekel a further push."
Published by Globes [online], Israel business news - www.globes-online.com - on June 17, 2013
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