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Will the Strong Yen and Weak Franc Continue?

Market Report

Will the Strong Yen and Weak Franc Continue?

18.06.2021

Today's Highlights
  1. Germany: Producer Price Index
  2. The Swiss Franc Falls

Yesterday, while the Nasdaq rebounded and rose in U.S. markets, the Dow Jones Industrial Average continued to fall, resulting in a trading session characterized by flat stock prices, lower commodity prices, and a stronger U.S. dollar.The fear index (VIX) remained stable at 17.5, while BTC/USD fell below $40,000 again and is currently trading in the $37,800 range.Additionally, the Nikkei 225, which had fallen below 29,000 yen, has recovered to the 29,000-yen range and is currently at 29,076 yen.

In the foreign exchange market, the Swiss franc plummeted starting during yesterday’s European trading session. The CHF/JPY pair fell by about 100 pips from 121.87 to 119.93, and is currently consolidating near its lows during Asian trading hours.The USD/CHF pair rose from 0.900 to 0.918, reaching its highest level since late April of this year.

As for today’s economic indicators, aside from the UK retail sales and German producer price index scheduled for 3:00 p.m. and Bank of Japan Governor Kuroda’s press conference at 3:30 p.m., no major economic releases or statements from key figures are expected.With no major events on the calendar, price movements are likely to be straightforward, so I plan to closely monitor currency strength and weakness while observing price trends.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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