The Israeli shekel has been amongst the worst performing currencies over the past month amid a rise in risk premia in Israel. We think it may remain under pressure against the US dollar over the coming months; but we doubt it will keep underperforming its peers, and are sticking with our end-2023 forecast of 3.4/$.
In view of the wider interest we are also sending this FX Markets Update to clients of our Emerging Europe Economics Service.
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