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Dollar and Euro Rise Against Shekel Amid Recent Market Shifts
The US dollar and euro have risen moderately against the Israeli shekel amid recent market shifts, with the dollar having weakened significantly over the past year. US Treasury bond purchases have lowered yields and supported stock markets, temporarily halting a market correction.
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What happened
- 01The dollar and euro have both risen moderately against the shekel this morning.
- 02Over the past year, the dollar weakened 12.63% and the euro 12.42% against the shekel.
- 03The euro's recent global strengthening explains the recent divergence between the two currencies.
- 04US Treasury doubled its long-term bond purchase program, supporting bond prices and lowering yields.
- 05The 30-year US Treasury yield fell from 5.33% to about 5.19%, boosting stock markets.
- 06It is unclear if the current market stabilization is temporary or sustainable.
The coverage
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