Shekel Weakening Against Dollar, Gaining On Euro

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shekelThe shekel is weakening against the dollar, but strengthening against the euro in inter-bank trading. The shekel-dollar exchange rate is up 0.37%, compared with Tuesday’s representative rate, to NIS 3.737/$, but the shekel-euro exchange rate is down 0.67% to NIS 4.934/€, reports Globes.

Minutes of the US Federal Reserve Board interest rate meeting indicate that it is in no rush to initiate a new qualitative easing plan (QE3). The Fed takes a cautious line on the US economic recovery. In Europe, traders are waiting for the upcoming interest rate decisions by the European Central Bank and the Bank of England.

{Yair Alpert-Matzav.com Israel}

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