Source: Globes, Tel Aviv, IsraelAug.自存倉 12--The shekel has weakened against the dollar, but strengthened against the euro in morning inter-bank trading today. The shekel-dollar exchange rate has risen 0.22 percent, compared with Friday's representative rate, to NIS 3.538/$, but the shekel-euro exchange rate has fallen 0.18 percent to NIS 4.715/?. The shekel-dollar exchange rate is still at a two-year low.FXCM Israel said today, "The shekel-dollar exchange rate fell last week to NIS 3.52/$, its lowest level since August 2011, because of the dollar's weakness in international markets, and the lack of response by the Bank of Israel. The fall below the May 2013 low of NIS 3.545/$, when the Bank of Israel began supporting the exchange rate, caused a flood of orders to cut losses on buy positions. The shekel-dollar exchange rate has apparently not yet hit bottom, and could continue to slide to the next support level of NIS 3.50/$."FXCM adds, "From the long-term technical perspective, the long slide from the high of NIS 4.09/$ in July 2012 occurred in five step迷你倉新蒲崗, which may signal that we're close to the end of the drop and the start of an major upward correction. This does not mean that the bottom has been set, but it is definitely possible that any movement toward NIS 3.50/$ will signal the end of this long slide."Atrade says today, "A fall below NIS 3.50/$ will cause the shekel-dollar exchange rate to fall toward NIS 3.45/$. Exporters will probably strongly urge the Bank of Israel because the further strengthening of the shekel causes them severe harm. A further drop in the shekel-dollar exchange rate will greatly damage the Israeli economy and cause a jump in unemployment. The first task of the next governor, who is due to take up office soon, will be to stem the strengthening of the shekel at any price, but when the dollar looks very sickly in international markets, this task will be hard to the point of impossible."Copyright: ___ (c)2013 the Globes (Tel Aviv, Israel) Visit the Globes (Tel Aviv, Israel) at .globes.co.il/serveen/globes/nodeview.asp?fid=942 Distributed by MCT Information Services迷你倉出租
- Aug 13 Tue 2013 18:11
-
Shekel weakens against dollar
請先 登入 以發表留言。