Euro

Julius Baer forecasts a medium-to-long-term decline for the resilient US dollar as temporary cyclical drivers fade, targeting 1.15 EUR/USD in three months.

A severe cottage cheese shortage in Israel has prompted Euro Cheese to import non-kosher cottage cheese from Switzerland for ₪8 to ₪9 per cup, bypassing local supply chain failures.

The euro has dropped to a multi-month low against the dollar amid persistent economic weakness and escalating political risks in France and Germany, raising concerns about a potential sovereign debt crisis.

The US dollar surged in global markets against the euro amid political turmoil in France and weaker-than-expected US employment data, pushing local exchange rates.

Local FX markets show calm ahead of Rosh Hashanah as the dollar trades near 3.02 ₪. Global markets await the ECB rate decision and US inflation data.

While the dollar weakens against the shekel, another leading currency is recording an unusual strengthening of more than 3%, creating a surprising offsetting mechanism that directly affects investors and savers in Israel.

Washington and Tokyo carried out their first joint intervention in the foreign exchange market in years. The move involved selling euros and buying yen, an unusual step intended to support the Japanese currency without weakening the dollar.

The dollar is stabilizing against the shekel following the Fed's decision to keep interest rates unchanged. Amid new US strikes in Iran, the dollar trades near 3.08 shekels, while the euro continues to climb, reaching 3.52 shekels.