Israeli Shekel Weakens Against Dollar and Euro Amid Mixed Global Currency Trends
The Israeli currency, the shekel, experienced a weakening trend against the US dollar and the Euro on Thursday, contrasting with a broader global decline in the dollar's value. Locally, the dollar rose by 0.3% against the shekel, trading at 3.03 shekels, while the Euro saw a sharper increase of 0.5%, reaching over 3.51 shekels.
Internationally, however, the dollar weakened against major currencies. The dollar index, which tracks its strength against a basket of leading currencies, fell by 0.2% to 99.4 points. The Euro gained 0.1% to approximately $1.16, and the British pound also rose 0.1% to around $1.35.
A notable development in global currency markets was the continued significant strengthening of the Japanese yen. The dollar lost nearly 1% against the yen on Wednesday and fell an additional 0.6% on Thursday, reaching 157.8 yen. Market speculation suggests this sharp rise in the yen's value may be due to direct intervention by the Japanese government in trading, possibly with US support.
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