Goldman Sachs is constructive on Israel's shekel, saying the combination of improved sentiment towards the euro area and Fed action bode well for the currency. "The [Bank of Israel] is unlikely to respond imminently to appreciation pressures, in our view, given short-term inflation risks emanating from rising global agricultural and energy prices and the excessively weak ILS," the bank says. It adds robust domestic demand also supports the currency. USD/ILS currently trades at 3.8983.
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