The shekel has weakened against the dollar, but strengthened against the euro in morning inter-bank trading today. The shekel-dollar exchange rate has risen 0.34%, compared with Friday's representative rate, to NIS 3.736/$, but the shekel-euro exchange rate has weakened 0.29% to NIS 4.855/€.
In international markets, the dollar is traded at $1.30/€ against the euro and at ¥93.45/$ against the yen.
FXCM says today, "The shekel-dollar exchange rate rose for the fourth consecutive week last week. Technical indicators also point to the weakening of the shekel against the dollar in the local market. Political uncertainty about the formation of a government is weighing on the shekel. The next targets for the correction are NIS 3.76/$ and NIS 3.78/$. Only movement below NIS 3.71/$ could turn things around."
