0.46% of notional. Spot ref 1.81. Maintain short USD/ILS. We are long a 3m USD/ILS put with a strike at 3.50 for 0.17% (spot ref: 3.68) from the EMEA Daily Compass on March 11 th . Little to prevent further grind lower to 2011 lows around 3.40, stop @ 3.73. Target a continued gradual grind higher in PLN/CZK