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Palestinians entering Israel after taking down the fence on the Israel-Gaza border on October 7.
Israel's shekel has fallen nearly 5% against the dollar since Hamas attacked on October 7.

Hani Alshaer/Anadolu Agency/Getty Images

  • Traders are betting against the Israeli shekel as the conflict threatens to become a wider war.
  • Short positions rose to their highest level in nearly two years last week, per Deutsche Bank data.
  • The Israeli currency has fallen nearly 5% against the dollar since Hamas attacked on October 7.

Traders are betting that the shekel will keep weakening amid fears that the conflict between Israel and Hamas could escalate.

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Markets, mi-exclusive, Markets, Currencies, Dollar, dollar-dominance, De-Dollarization, Israel, palestine, hamas, shekel, Shorting, short-selling, stock-market-analysis, stock-market-outlook, stock-market-strategy, investing-analysis, investing-outlook, investing-strategy
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Currency traders are piling into bets against Israel's shekel following the Ham…