Israel’s Too-Strong Shekel Shows Investors Unshaken
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For perhaps the best sign of how it’s been business as usual in Israeli markets since the fighting broke out in Gaza, look no further than the shekel.
It has proven so resilient, hovering near a three-year high even as emerging-market currencies plunged 1.7 percent on average over the past month, that Israeli central bankers intervened in the foreign-exchange market on Aug. 7, buying dollars to weaken it by the most in 11 months.