The shekel continues to strengthen against the dollar and weaken against the euro in inter-bank trading this morning as the dollar comes under pressure on world currency trading markets. The shekel-dollar exchange rate is trading down 0.62% against the dollar at NIS 3.84/$, and up 0.53% against the euro at NIS 4.322/€.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate up 0.052% from Tuesday's rate at NIS 3.864/$, and set the shekel-euro representative exchange rate at NIS 4.299/€, up 0.980%.
FXCM Israel research department said this morning, "The pressure on the shekel-dollar exchange rate continues as the euro strengthens against the dollar on world markets. The euro has been strengthening against the dollar since the beginning of the week due to the belief that Greece and its creditors are close to signing a new debt settlement agreement, ending scenarios in which Greece would declare bankruptcy of leave the euro bloc. The euro received additional support yesterday when the European Central Bank decided not to expand monthly bond purchases."
FXCM Israel added, "The shekel-dollar exchange rate has fallen below the NIS 3.84/$ threshold and is making its way to the bottom of the limit to NIS 3.80/$. Only rising above NIS 3.88/$ could change the momentum, although tomorrow's US job figures could give the dollar support if there is a positive figure of above 200,000."
Published by Globes [online], Israel business news - www.globes-online.com - on June 4, 2015
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