Trump comments boost shekel against dollar

Shekels Photo: Shutterstock

FXCM Israel: The dollar has weakened on markets worldwide after the President-elect failed to give details on his economic policies.

The shekel is strengthening against the dollar and weakening against the euro. In morning inter-bank trading, the shekel-dollar exchange rate was down 0.75% from yesterday's representative rate at NIS 3.823/$, and up 0.5% against the euro at NIS 4.068/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.182% compared with yesterday's rate at NIS 3.852/$, and the representative shekel-euro rate was set up 0.479% at NIS 4.048/€.

FXCM Israel said this morning, "The shekel-dollar exchange rate continues to fall due to yesterday's press conference by US President-elect Donald Trump in which although he expressed a determined commitment to encourage the job market, he did not elaborate his economic policies in his speech on subjects that the market had expected such as relations with China, trade agreements, fiscal policy etc. The market has expressed a certain disappointment and the dollar has weakened. The sex scandal surrounding Trump and the fall in US public support for him has hit the confidence of markets in his leadership. If the shekel-dollar rate falls below NIS 3.82/$, this will hasten its slide to NIS 3.80/$.

Published by Globes [online], Israel business news - www.globes-online.com - on January 12, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Shekels Photo: Shutterstock
Shekels Photo: Shutterstock
Twitter Facebook Linkedin RSS Newsletters גלובס Capital  Markets Conference 2017