The U.S. dollar strengthened to more than ₪3.06 on Tuesday, reaching its highest level against the Israeli shekel since April 13 as investors reacted to a stronger dollar globally, rising oil prices, and ongoing geopolitical tensions in the Middle East.
The dollar traded as high as ₪3.065, up from Monday’s official exchange rate of ₪3.049. The euro also gained against the shekel, trading at approximately ₪3.494.
Analysts say higher U.S. Treasury yields, persistent budget deficits, increased government borrowing, and geopolitical uncertainty have continued to support the dollar. Globally, the U.S. Dollar Index remained near 101 after four consecutive days of gains.
Energy market concerns have also contributed to the dollar’s strength. Two Saudi oil tankers bound for Asia reportedly altered their routes in the Red Sea following threats from Iran-backed Houthi rebels, while continued U.S. military strikes against Iran have fueled concerns over regional stability and potential disruptions to global energy supplies.
(YWN World Headquarters – NYC)
