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ILS: Shekel Advances Amid Hopes For Ceasefire W/Hezbollah

ILS
EM BulletBulletGlobalEmerging Market NewsMiddle EastRegion

The shekel has rallied on the back of reports suggesting that PM Netanyahu has ordered the army to scale down attacks on Hezbollah amid ongoing ceasefire talks. This was first reported by Channel 12 and re-circulated by major news agencies.

  • The US, France and their allies issued a call for an immediate 21-day truce between Israel and Hezbollah, with the Times of Israel reporting that both parties should give their answers in the coming hours. However, the Israeli PM is facing a strong pushback at home, with numerous local officials, a group of northern mayors and Netanyahu's coalition partners urging the leader not to accept a ceasefire agreement.
  • The shekel is the best EMEA performer at typing. Spot USD/ILS trades at 3.6928, 455 pips below neutral levels, after dipping through support from Sep 16 low of 3.6986. Bears look for further losses towards Aug 30 low of 3.6056.
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The shekel has rallied on the back of reports suggesting that PM Netanyahu has ordered the army to scale down attacks on Hezbollah amid ongoing ceasefire talks. This was first reported by Channel 12 and re-circulated by major news agencies.

  • The US, France and their allies issued a call for an immediate 21-day truce between Israel and Hezbollah, with the Times of Israel reporting that both parties should give their answers in the coming hours. However, the Israeli PM is facing a strong pushback at home, with numerous local officials, a group of northern mayors and Netanyahu's coalition partners urging the leader not to accept a ceasefire agreement.
  • The shekel is the best EMEA performer at typing. Spot USD/ILS trades at 3.6928, 455 pips below neutral levels, after dipping through support from Sep 16 low of 3.6986. Bears look for further losses towards Aug 30 low of 3.6056.