JPMorgan Says Shekel Now Likely Severed From US Stocks for Good

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 50%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

The shekel is emerging from a year of political upheaval in Israel with a broken correlation to US equities, a deviation that may be here to stay, according to JPMorgan Chase & Co.

Long more in sync with global technology stocks than domestic drivers, the currency has been set adrift this year as Prime Minister Benjamin Netanyahu’s efforts to wrest more power away from Israel’s courts divided the country and triggered massive street protests.

In the decade through the end of last year, the shekel was one of the rare currencies in the world to strengthen against the greenback, as Israel ran a current-account surplus and benefited from technology investment and increased natural gas exports. But the relationship no longer holds. The shekel has lost nearly 9% against the dollar in 2023, trading in recent days at a three-year low.

Without outright positions on the shekel, JPMorgan said “political risk is likely to remain elevated” as the government’s steps to overhaul the judicial system face challenges in court.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 83. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

JPMorgan Says ‘Trailblazing’ Rules to Boost India’s ESG MarketIndia’s new rules for environmental, social and governance investments and ratings are likely to attract more investors to the nation’s $1.4 billion market and serve as a model for other countries, according to JPMorgan Chase & Co.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »