- USD/ILS: Shekel to rebound from weaker levels when conflict de-escalates – MUFG
Market news
18 tháng 10 2023
USD/ILS: Shekel to rebound from weaker levels when conflict de-escalates – MUFG
The Shekel has weakened sharply in response to the conflict between Hamas and Israel. Economists at MUFG Bank analyze ILS outlook.
Move above 4.00 level likely to prove short-lived
Recent history suggests ILS can weaken further during the conflict.
BoI intervention will help to dampen the scale of ILS sell-off.
ILS weakness could make BoI cautious about cutting rates as market expects.
Levels above 4.00 for USD/ILS have proven short-lived since the GFC. We expect ILS to rebound from weaker levels once conflict de-escalates.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page