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Shekel Weakens on Concern Egypt Gas Halt May Stoke Mideast Risk

Israel’s shekel was set for the biggest decline in more than a week as demand for riskier assets waned on concern Egypt’s decision to halt a natural gas supply agreement may fuel Middle East geopolitical tensions.

The currency dropped 0.2 percent to 3.7583 a dollar, headed for the biggest drop on a closing basis since April 13, at 4:35 p.m. in Tel Aviv. That brings the monthly decline to 1.3 percent. It earlier fell 0.5 percent, the most since April 18. The Tel-Bond 40 index of corporate bonds fell for the first time in more than a week, declining 0.3 percent to 267.27 at the 4:30 p.m. close. The TA-25 Index retreated 1.2 percent, the most in more than a week.