Shekel weakens against dollar and euro

The shekel was weaker against the dollar and the euro in inter-bank trading on Wednesday. The shekel-dollar exchange rate was up 0.21% from Tuesday's representative rate at NIS 3.746/$, while the shekel-euro exchange rate was up 0.41% to NIS 4.957/€.
In Europe, production figures for Germany, France, and the Eurozone as a whole will be published today, providing an indication of their economies, just two days after Eurozone finance ministers approved the €130 billion second Greek bailout.
In Israel, traders are getting ready for next Monday's interest rate decision for March by the Bank of Israel. The decision will be partly based on the Consumer Price Index (CPI) for January, which at zero, was higher than expected, as well as an uptick in 12-month inflation expectations to 2.4%.