Israel-Gaza War, Economy

Globes: This is why the shekel is gaining on the dollar and the Euro

A combination of stock market increases and greater stability in the country have returned things to normal in Israeli trading, and the expectation of a Fed rate cut is weakening the dollar.

Stock Market. Illustration. (Photo: zignal_88/Shutterstock)

Despite a series of blows emanating from the months-long war, the shekel has gained 2.5% on the dollar and 0.5% on the Euro in the last two months, according to Globes, which set out to find out why.

Talking to the head of market strategies at Bank Leumi, Globes learned that since stock markets such as the Dow Jones and the S&P, alongside the expectation of a reduction in the interest rate of the Federal Reserve, has weakened the dollar while strengthening the shekel.

Meanwhile, unlike in the early months of the war, reports about operations in Rafah or the border war in the north do not lead to sharp movements in trading and buying, allowing greater stability in the currency.

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