18 June 12 10:34–The shekel is strengthening against the dollar, and is flat against the euro in morning inter-bank trading today, after parties supporting the Greek austerity plan narrowly won yesterday’s elections. The shekel-dollar exchange rate is down 0.60%, compared with Friday’s representative rate, at NIS 3.844/$, and the shekel-euro exchange rate is down 0.4% to NIS 4.88/€.
On international markets, the dollar is weaker by 0.5% against the euro, at around $1.27/€.
In Greece, the New Democracy Party and Pasok won 162 of the 300 seats in Parliament in yesterday’s elections, which increase the likelihood that the country will stay in the eurozone. The challenge now is to form a coalition that can pass harsh austerity measures in the debt-burdened country.
Investors are also waiting for news from the G20 Summit in Los Cabos, Mexico, which eurozone leaders are also attending…Read More>>