A failed attack on the Pi Glilot fuel depot just north of Tel Aviv Thursday morning, and the suicide attack in Rishon Letzion that killed two on Wednesday night is weakening the shekel in the currency market.

The dollar is rising by 0.55% against the shekel to NIS 4.8920 Thursday morning.

In fact the shekel had begun to weaken Wednesday night, as traders responded to the Rishon attack by issuing buy orders for dollars.

Dealers report that trade began quietly this morning and that the volume of trade is low. Dollar-sellers started to show up when the dollar hit NIS 4.8820, dealers say.

Generally, the currency market is waiting on the fence for several events due to take place in the coming days.

The Bank of Israel will be announcing interest rates for June next Monday. The consensus is that the central bank will order a 1% rate rise. Also, the Knesset will be voting for the first time on the Bank of Israel Governors bill, which makes interest rates determinable by a panel, not by the central bank governor alone.