Against backdrop of high voter turnout: shekel surges sharply

The shekel surged sharply on election day, rising 1.1% against the dollar and 1.4% against the euro, against a backdrop of exceptionally high voter turnout approaching 45%. The dollar traded around 3.05 shekels and the euro around 3.40 shekels. The gains began around 10:00 AM, coinciding with the release of initial turnout data showing rates near 45% — among the highest in decades. The article notes that the forex market dislikes uncertainty, and traders may see high turnout as a sign of a clearer outcome that could shorten the period of political uncertainty. However, it is too early to determine exactly what is driving the shekel's strength.

The shekel surged sharply on election day, with gains of 1.1% against the dollar and 1.4% against the euro. The dollar traded around 3.05 shekels and the euro around 3.40 shekels. The gains began around 10:00 AM, coinciding with the release of initial turnout data showing exceptionally high voter turnout, approaching 45% — among the highest in decades. The article notes that the forex market dislikes uncertainty, and it is possible that traders see the high turnout as a sign of a clearer outcome that could shorten the period of political uncertainty. However, it is too early to determine exactly what is driving the shekel's strengthening.