In what could be seen as a sad reality, on the heels of today’s
terror attack in the heart of Israel’s capital city of Jerusalem, the Israeli Shekel is rallying more than 1.5% against both the Euro and the US Dollar. It used to be that after a terror attack the Shekel would drop. Unfortunately, after years and years of living with terrorism, today’s attack which has left at least 4 innocent people dead and scores injured, has had no effect on the currency market. The shekel continues to be one of the
strongest currencies in the world, even in the face of continued terrorism, missile attacks in the south, and the threat of some type of military conflict with Iran.
It’s a pretty sad state of affairs that we have become so anesthetized by terrorism that it makes virtually no impact in our lives. We just continue on as if nothing has happened. Our thoughts and prayers are with the families of those that were killed, and we wish a speedy recovery to those injured.
Disclosure: Author’s fund has no position in any stock mentioned as of 7/02/08.
