Israel's shekel appreciated 1% to a two-week high against the dollar on Wednesday. The Israeli currency moved to 3.65 versus the dollar, its strongest level since May 22, two days before Prime Minister Benjamin Netanyahu said legal system changes were back on the agenda but that he sought a compromise with the opposition.
Last Friday, the shekel reached a more than three-year low of 3.753 per dollar. Next week, parliament is expected to vote on two lawmakers to join a committee that will select judges, including to the Supreme Court, one of the few checks and balances in Israel's political system.
According to analysts, a member of the opposition could be one of those appointed and a first sign of compromise talks bearing fruit and a setback for hardliners in Netanyahu's religious-nationalist government who want more control over judicial appointments.
Source: reuters.com