Shekel gains as dollar hit by US midterm results

Shekel Photo: ASAP Creative

Congress will be split as the Republicans have strengthened their grip on the Senate but the Democrats have taken control of the House.

The shekel is strengthening today against the dollar and weakening against the euro. In morning inter-bank trading, the shekel-dollar exchange rate is down 0.43% against the dollar at NIS 3.674/$ and up 0.24% against the euro at 4.217/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.244% at NIS 3.700/$ from Monday's rate and set the shekel-euro rate down 0.410% at 4.206/€.

The shekel is gaining against the dollar, which is weak worldwide after the US midterm election results have brought a split Congress. The Republicans have strengthened their grip on the Senate that the Democrats have taken control of the House of Representatives. A split Congress will inevitably make it more difficult for President Donald Trump to push through his agenda.

Published by Globes, Israel business news - en.globes.co.il - on November 7, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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