Israeli shekel plunges to 8-year low since war broke out in Gaza

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Israeli shekel plunges to 8-year low since war broke out in Gaza
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War clouds expected to loom as Tel Aviv all set for ground invasion into Gaza strip

The Israeli shekel hit an over eight-year low at 3.99 per dollar as Israel’s IDF all set to invade the Gaza strip despite international appeals and warnings not to peruse the path of destruction.

Reuters quoting Andre Cilliers—currency risk strategist at TreasuryOne—said, “The Dollar is trading slightly off Friday's stronger closing levels as traders remain wary of further escalation in the Hamas/Israeli conflict. Israel is preparing for its ground offensive into Gaza while there have been clashes with Hezbollah on the Lebanon border,”

He added that there is not much to look forward to on the US economic data front this week except tomorrow's retail sales number.

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