Sharp Turn in Forex Following Election Results: Dollar Strengthens

The dollar strengthens by more than 1% in continuous trading this morning, erasing all of yesterday's declines, and returning to trade around 3.08 shekels. This follows the official election results indicating a significant advantage for the coalition bloc (57 seats based on 37% of the vote), contrary to initial polls.

The dollar is strengthening sharply against the shekel this morning, following the publication of the official results of the Knesset elections. After the shekel strengthened by about 1.8% against the dollar during election day, reaching a daily low of around 3.02 shekels, a sharp reversal occurred overnight. The dollar jumped by more than 1% in continuous trading, erasing all of yesterday's declines and returning to trade around 3.08 shekels. The reversal is attributed to the flow of official results from the Central Elections Committee, indicating a significant advantage for the coalition bloc (57 seats based on 37% of the vote). This is contrary to initial polls that showed a slight advantage for the opposition. The article notes that yesterday's shekel strengthening was correlated with high voter turnout, and that after the polls were published, only a slight strengthening of the dollar was recorded.