Shekel Reels From U.S. Tax Cut News

YERUSHALAYIM -
Shekel, U.S., Tax Cut
(Reuters/Nir Elias, File)

News of U.S. President Donald Trump’s proposal for dramatic tax cuts sent the shekel reeling on Thursday, as the shekel-dollar exchange rate rose in favor of the dollar to NIS 3.639/$.

The euro was also up 0.26% against the shekel at 3.97/€.

The euro gain was attributed to the French election polls, which forecast a decisive defeat of pro-Frexit, far-right candidate Marine Le Pen on May 7.