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ISRAEL: USD/ILS Nudged Through Yesterday's Lows on UN Resolution Headlines

ISRAEL
  • Hamas officials reportedly tell Reuters that the group have accepted a UN ceasefire resolution, and are ready to negotiate over the details. Separately, Blinken states that the Hamas response to the UN resolution is a "hopeful sign", and the decision from the Hamas leadership is "what counts". 
  • Recall this is the US-backed resolution drafted by the UN Security Council - but it's still ambiguous on what the Israeli gov's position is. Netanyahu had reportedly distanced himself from it, and his coalition had reportedly shifted to the right since the proposal was put forward, according to the Guardian.
  • ILS on the front foot on these headlines, with USD/ILS now through yesterday's lows of 3.7395. Focus naturally turns to any Israeli response to these reports, but market clearly buying into signs of progress. 

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