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ILS: Shekel Weakens Further, Israeli Response To Iranian Missile Attack Eyed

ILS
EM BulletBulletGlobalEmerging Market NewsMiddle EastRegion

USD/ILS edges higher in the wake of yesterday's 1.1% upswing, pushing towards resistance from Sep 24 high of 3.8034. The rate last changes hands +92 pips at 3.7792. On the downside, bears see Sep 26 low of 3.6792 as their initial target.

  • The escalation of Israel's engagement in conflicts in Gaza and Lebanon prompted cuts to the country's sovereign credit ratings. S&P downgraded Israel's rating from A+ to A-, noting that geopolitical developments may cause a "delayed economic recovery." This came after Moody's downgraded Israel's rating by two notches to Baa1 last week, pointing to the lack of war exit strategy on the country's part.
  • Israel continues to conduct operations in southern Lebanon after coming under a missile attack from Iran last night. The IDF intercepted most of the projectiles, with the region now awaiting Israeli retaliation.
  • The Bank of Israel will deliver its next monetary policy decision in one week's time, on Oct 9.
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USD/ILS edges higher in the wake of yesterday's 1.1% upswing, pushing towards resistance from Sep 24 high of 3.8034. The rate last changes hands +92 pips at 3.7792. On the downside, bears see Sep 26 low of 3.6792 as their initial target.

  • The escalation of Israel's engagement in conflicts in Gaza and Lebanon prompted cuts to the country's sovereign credit ratings. S&P downgraded Israel's rating from A+ to A-, noting that geopolitical developments may cause a "delayed economic recovery." This came after Moody's downgraded Israel's rating by two notches to Baa1 last week, pointing to the lack of war exit strategy on the country's part.
  • Israel continues to conduct operations in southern Lebanon after coming under a missile attack from Iran last night. The IDF intercepted most of the projectiles, with the region now awaiting Israeli retaliation.
  • The Bank of Israel will deliver its next monetary policy decision in one week's time, on Oct 9.