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ILS: Shekel Marginally Weaker, Security Cabinet Meeting Proves Inconclusive

ILS
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USD/ILS trades at 3.7671, 48 pips higher on the day, with participants looking for clarity on Israel's retaliation against Iran. Technically, Oct 4 high of 3.8309 continues to provide the initial target on the topside. Bears look for sales past Sep 26 low of 3.6792.

  • Israel's security cabinet convened last night to discuss the anticipated retaliation strike against Iran, but an unnamed official told Bloomberg that the meeting ended without any final decisions. The news outlet reminded that the US is trying to pressure Israel to limit the scope of its strike in order to avoid a wider escalation of the conflict.
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USD/ILS trades at 3.7671, 48 pips higher on the day, with participants looking for clarity on Israel's retaliation against Iran. Technically, Oct 4 high of 3.8309 continues to provide the initial target on the topside. Bears look for sales past Sep 26 low of 3.6792.

  • Israel's security cabinet convened last night to discuss the anticipated retaliation strike against Iran, but an unnamed official told Bloomberg that the meeting ended without any final decisions. The news outlet reminded that the US is trying to pressure Israel to limit the scope of its strike in order to avoid a wider escalation of the conflict.