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Excerpt from:  FX Rates
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February 12, 2008

Israeli Shekel Gains in Forex Trading

Shekel up against the US dollar in currency trading
The Israeli shekel is gaining in forex trading on the currency market this morning. Fears of a US recession are easing in other countries, and Israel is one of those. The shekel is gaining against the US dollar in currency trading based on yield. Bloomberg reports on the Israeli shekel in forex trading:

``Now that there's a bit of a calmer feeling in the U.S., this affects Israel,'' said Yael Brimer, a bond analyst at Tel Aviv-based Bank Leumi Le-Israel Ltd., the country's largest lender by assets. ``We're not isolated from the rest of the world. The calm is leading to gains here, since there's less fear and less of a flight to safer assets.''
Topic Tags:  currency trading, forex trading, FX market, Israeli shekel, shekel forex trading, US dollar, US dollar currency trading, US recesssion

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