"UNESCO has returned to the ritual of political anti-Israeli decisions that undermines anything Israel does in Jerusalem", the Foreign Ministry said in a statement on Thursday.
The plan was drawn up several years ago by the Jerusalem municipality, but had been put on hold due to the strong opposition of the administration of the former US President Barack Obama, the Israeli newspaper Haaretz reported. "There is no reason there's not peace between Israel and the Palestinians - none whatsoever". Trump will have to decide at that point whether to extend the waiver another six months or let it lapse and move the embassy.
A senior Israeli official who asked to remain anonymous told Haaretz that the president will follow in the path of his predecessors and sign the waiver.
Following meetings with Arab leaders since taking office, and especially Jordan's King Abdullah II at the National Prayer Breakfast, Trump said he would like to see the move take place eventually but that he wouldn't go through with it right away.
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In Asia, Japan's Nikkei 225 index climbed 1.1%, South Korea's Kospi gained 1.1% and the Hang Seng in Hong Kong jumped 1.3%. The euro fell to $1.0882 from $1.0899 late Wednesday while the dollar slipped to 111.23 Japanese yen from 111.38 yen.
UNESCO's draft resolution brands Israeli Sovereignty over the entirety of Jerusalem "illegal".
Earlier in the day, Channel 2 reported that Trump is scheduled to visit Israel for one night on May 23, coinciding with Jerusalem Day which will mark the 50 anniversary of the reunification of Jerusalem since the 1967 defensive war.
"Israel extended sovereignty to East Jerusalem and the Old City and claims the entire city as its capital; the Palestinians seek East Jerusalem as the capital of an independent Palestinian state", the Times of Israel explained. Most countries have their embassies located in Tel Aviv.
The new US ambassador to Israel, David Friedman, reportedly will arrive in Israel on May 15 and present his credentials to President Reuven Rivlin in June.