US investment bank says strong correlation between shekel and tech stocks could be affected in 'Blue Sweep'

US multinational investment bank and financial services company Goldman Sachs noted in its most recent weekly report that Israel's currency - the shekel - strengthened 1.5 percent against the dollar.

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Despite the appearance of strength, Goldman Sachs warned, "The strong correlation between shekel and tech stocks could result in shekel weakness in the event of a Blue Sweep in November [victory for Former Vice President and Democratic nominee Joe Biden and Democrats regaining control of the Senate and potentially maintaining control in the House] if this is perceived to result in higher taxes and regulations on the sector - making it an attractive hedge that is also positive to carry," reported Israeli financial outlet Globes. Read more at i24