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Shekel Extends Gains To Best Levels Since July

ILS

Spot USD/ILS has shed 358 pips and last deals at 3.6136, printing its worst levels since mid-July. Further losses past Jul 19 low of 3.5649 would open up Jun 16 low of 3.5413, while bulls keep an eye on Nov 27 high of 3.7566.

  • National Security Adviser Tzachi Hanegbi suggested that Israel could potentially agree to handing control over civil affairs in Gaza to the Palestinian Authority after the war ends there, but it would require the PA ending incitement to violence against Israel.
  • BoI Governor Amir Yaron said earlier this week that the 2024 budget must place emphasis on growth, infrastructure and education. Regarding the BoI's rate decision due on January 4, Yaron said that it is necessary to behave responsibly amid the volatility caused by the ongoing war in Gaza.

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