The shekel strengthened against the dollar and is flat against the euro in morning inter-bank trading today. The shekel-dollar exchange rate fell 0.38%, compared with yesterday's representative rate, to NIS 3.588/$, and the shekel-euro exchange rate rose 0.04% to NIS 4.801/€.
In international markets, the dollar is traded at $1.339/€ against the euro.
FXCM Israel said in its daily market review today, "Pressure continues on the shekel-dollar exchange rate this morning with the two currencies being traded around the NIS 3.59/$ mark. This is a critical level from a technical point of view and breaking past this could hasten the rate being pushed downwards, possibly even as far as a NIS 3.545/$ low point."
"However in the next day the market is standing by tensely for the crucial even of the week the monthly policy decision meeting of the US Federal Reserve, which begins today and continues tomorrow. It will be decided whether to reduce or expand quantitative easing. The results of the meeting will have a far reaching impact on trading of all financial assets from stock markets through to the dollar exchange rate including the shekel dollar exchange rate.
