The shekel has gained over 1% against the dollar in morning trading, and has gained 2.3% in four days.
The shekel continues strengthening against the dollar and euro in morning trading today. The shekel has gained over 1% against the dollar this morning to NIS 4.193/$, and by 0.74% against the euro to NIS 5.714/€. The shekel has now gained 2.3% or NIS 0.10 against the dollar since Thursday, after weakening by almost 9% over the last six weeks.
Online foreign currency brokerage firm Easy Forex notes the dollar's continuing weakening against most leading currencies, and says that the currency is being harmed by increasing fears among investors of a slowdown in the housing sector in the US, a development that could harm economic growth. Easy Forex also says that the expectations that the US interest rate will remain unchanged for the time being, coupled with the likely hikes in interest rates in other countries, do not encourage investors to buy dollars.
Published by Globes [online], Israel business news - www.globes.co.il - on July 3, 2007
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