Shekel Gains 0.82% Against Dollar as Netanyahu Bloc Falls Short in Exit Polls

The shekel's move looks less like a verdict on any single coalition outcome than a repricing of political risk: exit polls pointing to a Netanyahu bloc short of a majority reduce the tail risk of a government that markets may have priced as more disruptive. The currency's strength across several sessions suggests positioning was already leaning one way before the vote. What matters now is whether the result holds as votes are counted and whether coalition arithmetic produces a stable government — that, rather than the exit polls themselves, is the open question.