Amid high voter turnout: the shekel surges sharply

The shekel is surging sharply on election day: gains of 1.1% against the dollar and 1.4% against the euro, amid exceptionally high voter turnout approaching 45%.

The shekel is surging sharply on election day, with gains of 1.1% against the dollar and 1.4% against the euro. The dollar is trading 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 indicating exceptionally high voter participation, approaching 45% — among the highest in decades. The article notes that the forex market dislikes uncertainty, and traders may see the high turnout as a sign of a clearer outcome, potentially shortening the period of political uncertainty. However, it is too early to determine exactly what is driving the shekel's strengthening.