Aaron Katsman IsraelNewsletter.com

Federal Reserve chairman Ben Bernanke’s tough talk on the US Dollar helped support the greenback against the major global currencies, but it caused a minor rally against the Israeli shekel. As a reminder, the shekel has been one of the world’s strongest currencies over the last year, and its strength, while serving as a seal of approval on the state of the Israeli economy, has crushed exporters as well as many Israeli hi-tech’s that sell globally but keep their R&D local, due to the fact that their expense line has increased from the currency differential.

Many local market participants were wondering just how low the dollar could go. While IOI is not calling a bottom, we do think that chances are quite good that we will see a continued dollar appreciation against the shekel. Keep in mind that we have see

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IOI’s Zack Miller and Aaron Katsman were interviewed by CNBC’s Squawk Box. CNBC is here in Israel celebrating Israel’s 60th Birthday. See the video here. Please see our Disclaimer HERE. NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.