World-Beating Currency Leaves Israel Economy Struggling to Grow
Shekel rises beats most major peers vs dollar, euro in 2015
Traders losing faith in central bank’s ability to curb gains
By Sharon Wrobel, BLOOMBERG
Israel is running out of ways to free itself from the burden of a world-beating currency.
The shekel is one of just three major peers to avoid being crushed by the dollar’s advance this year and is the second-best performer against the euro with a jump of 11 percent. Traders see little chance of the gains evaporating, with options signaling about 70 percent odds the currency will revisit its 2015 highs by next December.
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