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Trading Summary for 2019: The Rising Shekel

The shekel's strength has been the main highlight of this year. Since the beginning of 2019, the shekel grew stronger against all major currencies. 

Given the political uncertainty in Israel, this is surprising. One would expect that in a country that's had two elections in a year with another on the way would undoubtedly suffer. Nevertheless, the shekel fooled us all and continued to increase in value. 

Brexit has been another 'highlight' of the year. This time last year, we were no closer to solving the Brexit puzzle. However, thanks to the recent UK election results, it seems that Brexit will take place in early 2020. We hope this will bring some more stability to the pound in the coming year.

In the US, despite the high performance of the stock markets, the Dollar suffered in 2019. Interest rate cuts and future expected cuts have helped keep the Dollar relatively low against the shekel.

If we were to predict what we will be writing this time next year, it would be that both the US Dollar and Sterling are higher than when they began 2020!


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