Spot USD/ILS gains for the sixth consecutive day and last trades +104 pips at 3.7170. The pair is yet to test last Friday's high of 3.7308, but Jun 2 cyclical high of 3.7551 remains in sight, with bulls looking to mount a challenge to these levels. Bears keep an eye on the 200-DMA, which last intersects at 3.5578.

The focus is on the latest flare-up in West Bank violence, with the IDF conducting strikes against targets in the Palestinian city of Jenin. Opposition lawmaker Ze’ev Elkin accused Prime Minister Benjamin Netanyahu of making decision without consulting his Security Cabinet amid growing distrust among coalition leaders.
Looking ahead, the Bank of Israel will announce its next rate decision on Friday.

Bullet EM Bullet Emerging Markets News Homepage

Krzysztof Kruk

Bullet EM Bullet Emerging Markets News Homepage

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Shekel Weakens For Sixth Straight Day