Early Signs Of Shekel Strength?May 2009 | Market Strategy
After a sharp appreciation in recent days, the Israeli shekel looks in line for some short-term retracement. We anticipate a move back towards levels of ILS4.00-4.15/US$ in the coming days and weeks. That said, the technical picture, combined with a shifting macroeconomic outlook could favour the unit in the medium term, with appreciation towards ILS3.65/US$ a possibility.
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