Shekel strengthens after failing to test NIS 3.80/$

The shekel is strengthening today against the dollar and against the euro. In afternoon inter-bank trading, the shekel was down 0.25% against the dollar from yesterday's representative rate at NIS 3.777/$, and was down 0.16% against the euro at NIS 4.243/�.

Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.371% from Tuesday's rate at NIS 3.786/$, and the representative shekel-euro rate was set up 0.288% at NIS 4.250/�.

FXCM Israel said in its morning survey, "The shekel-dollar exchange rate continues to move upwards yesterday for the third straight day and tested NIS 3.79/$. However, with the uncertainty of the US Fed's intentions, it will be difficult for the currencies to break above NIS 3.80/$. The market says there is a 15% likelihood of the Fed raising the US interest rate at its meeting next week. The dollar is mixed worldwide, strengthening against commodity currencies as oil prices fall but weakening against the yen amid speculation that Japan's central bank will significantly increase bonds purchases.

Published by Globes [online], Israel business news - www.globes-online.com - on September 15, 2016

Shekel strengthens after failing to test NIS 3.80/$

FXCM Israel: The uncertainty of the US Fed's intentions makes it difficult for the shekel-dollar rate to break above NIS 3.80/$.