USD increases causing EURO market to decline
Analysts therefore initially attributed the drop in U.S. yields to Monday's comments from two Fed officials. They said a rise in long-term yields could occur even without further rate hikes as traders seek safe-haven assets in the wake of Hamas attacks on Israel.
The Israeli shekel is currently trading near an eight-year low at 3.9550 shekels to the dollar after Israel's central bank pledged to spend $30 billion to prevent the currency from falling.
“I think they are very keen on this and want to prevent trading at Level 4,” said Chris Turner, head of markets at ING.
Israeli airstrikes hit the Gaza Strip yesterday, destroying an area of Pralestina and filling a morgue, as Israel retaliates for Hamas attacks. Furthermore, the traditional safe-haven currency, the Swiss franc, weakened by about 0.21% to 0.9045 francs against the dollar. The British pound rose 0.40% to $1.2286.
The Israeli shekel is currently trading near an eight-year low at 3.9550 shekels to the dollar after Israel's central bank pledged to spend $30 billion to prevent the currency from falling.
“I think they are very keen on this and want to prevent trading at Level 4,” said Chris Turner, head of markets at ING.
Israeli airstrikes hit the Gaza Strip yesterday, destroying an area of Pralestina and filling a morgue, as Israel retaliates for Hamas attacks. Furthermore, the traditional safe-haven currency, the Swiss franc, weakened by about 0.21% to 0.9045 francs against the dollar. The British pound rose 0.40% to $1.2286.
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