Shekel gains significant strength against dollar and euro

Bethlehem-Ma'an- The dollar and the euro fell slightly against the Israeli shekel, which witnessed a noticeable increase, and traded today at 3.71 shekels, an increase of about 1.3% compared to the representative price that was set on Monday at 3.78. The euro also fell significantly against the shekel, trading at around 4.08 shekels, according to Yedioth Ahronoth. Analysts point out that the possibility of progress on a ceasefire agreement tomorrow within the framework of the conference scheduled to be held in Doha, and Iran's promise to the United States that in such a case it will refrain from responding to Israel, is what led to the strengthening of the shekel. Failure of the summit could lead to a significant reversal of the shekel's weakness and sharp price declines early next week. Investors around the world are awaiting US inflation data, which will be published today at 15:30. These expectations are mainly due to estimates that the US Federal Reserve is expected to cut interest rates in September, partly due to slowing inflation. Source: Maan News Agency