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Shekel On Defensive, Israeli Mins Insist On Need To Keep Fighting War On Hamas

ILS

The shekel is on the back foot, with Israeli officials insisting on the need to keep waging its war against Hamas (see our Political Risk bullet: IDF Could Reconsider Nature Of Rafah Op After Biden Comments for caveats).

  • Spot USD/ILS trades +141 pips at 3.7335, with bulls looking for gains towards the twin Apr 19/26 highs of 3.8270/74. Bears keep an eye on yesterday's low of 3.6908 and Apr 8 low of 3.6764.
  • Israel's consumer confidence improved markedly in April, with headline index rising to 72 from 53 prior.

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