Shekel weakens further against dollar in line with global trend

• Author: Globes correspondent
• Published date: 28 September 2022
• Publication title: Globes (Rishon LeZion, Israel)

The shekel-dollar rate is currently 1.4% higher than the representative rate set last Friday (Israeli markets were closed on Monday and Tuesday for the Rosh Hashana holiday) at NIS 3.5377. while the shekel-euro rate is 0.92% lower, at NIS 3.3796/€

Morgan Stanley chief US equity strategist Michael Wilson wrote on Monday that the stronger US dollar is creating an "untenable situation" for risk assets such as stocks, and that similar situations in the past have led to some kind of financial or economic crisis. "While hard to predict such 'events,' the conditions are in place for one," Wilson wrote.

The US Dollar Index, which indicates the value of the dollar against a group of major currencies, has climbed 19% so far this year...