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ILS: Shekel Tad Firmer, BoI Minutes Eyed

ILS

Spot USD/ILS trades at 3.6370, down 72 pips on the session, sticking to a familiar range. Losses past Jul 12 low of 3.5800 are needed to reignite bearish momentum, while bulls look for gains towards Jul 1 high of 3.7810. Worth noting that the pair's 50-DMA has just crossed below the 100-DMA.

  • The Bank of Israel will today release the minutes of its most recent monetary policy meeting, which resulted in a decision to keep the base rate unchanged at 4.50%.
  • PM Benjamin Netanyahu departed for Washington DC, where he will meet with US President Joe Biden and deliver an address to the Congress

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