The US dollar is weaker ahead of the Federal Reserve meeting this week, when investors expect to hear about a pause in its tightening policy.
The shekel is again strengthening today against the dollar and weakening against the euro. In late morning inter-bank trading, the shekel-dollar exchange rate is down 0.42% against the dollar at NIS 3.669/$ and up 0.27% against the euro at 4.186/€.
The Bank of Israel set the shekel-dollar representative rate up 0.054% at NIS 3.685/$ on Friday and set the shekel-euro rate down 0.136% at 4.175/€.
On international forex markets, the US dollar is weaker ahead of the Federal Reserve meeting this week when investors expect to hear about a pause in its tightening policy following pressure from President Donald Trump and a downward revision in growth forecasts.
Leader Capital Markets macroeconomist Yonatan Katz in his weekly review, however, points out that the latest US jobseeker figures and the managers purchasing index have been better than expected. In Israel, he sees quarterly growth of 3% on an annualized basis.
Published by Globes, Israel business news - en.globes.co.il - on January 28, 2019
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Shekel Photo: ASAP Creative