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 the 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, which recorded a daily low of about 3.02 shekels, a sharp turn occurred overnight. The dollar jumped by more than 1% in continuous trading, erased all of yesterday's declines, and returned to trade around 3.08 shekels. The turn is attributed to the flow of official results from the Central Elections Committee, indicating a significant advantage for the coalition bloc of parties (57 seats based on a count of 37% of the vote). This is contrary to the initial polls that indicated a slight advantage for the opposition. The article notes that the shekel's strengthening yesterday was due to a correlation with the high voter turnout, and that after the publication of the polls, only a slight strengthening of the dollar was recorded.