The euro has strengthened by 0.6% today (Monday) to 4.2 shekels. The Bank of Israel will publish its interest rate decision for August today. The central bank is expected to keep the interest rate unchanged.
Forex trading today is mixed today. The dollar is down 0.2% against the shekel and is trading between the banks at 3.819 shekels ahead of the Bank of Israel 's interest rate decision for August .
Meanwhile, the euro is up 0.6% at 4.2 shekels.
On global markets, the dollar is down 0.4% against the euro and is trading at $1.14 to the euro after losing 0.5% of its value since June due to the dramatic developments taking place in Greece in recent months.
The ongoing decline in commodity prices market is also causing fluctuations in the foreign exchange market.
The price of gold is at a five-year low and crude oil has dropped below $50 a barrel.
"The decline in commodity prices creates an impression of a slowdown in the global economy," according to a senior Forex strategist in Tokyo.
