The shekel slides 2pc against the dollar

 The US dollar rises to 3.75 after the more than 2pc plunge of the Israeli shekel on Tuesday, the day after the Knesset passed its first reading of the judicial reform bill. The impact due to spreading economic uncertainty eclipsed the 0.75pc interest hike announced by the central bank. Economic strategists predict a further depreciation of the shekel of up to 8pc. Bloomberg: “Israeli politics is weighing on the market.”

As both sponsors and opponents of the judicial overhaul remain barricaded in position against dialogue and compromise, PM Binyamin Netanyahu insisted again that “talks were possible and could lead to agreements.” He added: “No one in the opposite camp is getting up to start talking.” Opposition leader Yair Lapid retorted: “For long weeks we have been trying to get talks begun, but all they want is impetuous legislation.”


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