The US dollar declined further against the Israeli shekel during New York trading on Monday. The greenback-shekel pair dropped to a 12-day low of 4.0995 at around 7:30 am ET from last week's New York closing value of 4.1715. Thereafter, the pair reversed its direction presently trading at 4.1414. If the US currency moves down further, it may likely target the 4.0637 level.

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