U.S. Dollar at 10-month Low Against Israeli Shekel

Analysts warn that the strong shekel will hurt the price competitiveness of Israeli exporters and may leave Bank of Israel Governor Stanley Fischer little choice but to intervene in the market.

The U.S. Congress found a way out for now from the perils of the fiscal cliff, but the dollar lost heavily against the shekel and other world currencies Wednesday, with traders saying the shekel's appreciation is not yet over.