Should we keep an eye on the pound’s price movements as it withstands the decline?

Should we keep an eye on the pound’s price movements as it withstands the decline?

17.12.2021

Yesterday, the three major U.S. stock indices all fell, leading to a market environment characterized by lower stock prices, lower interest rates, and higher oil prices.WTI crude oil rose to $71.60. Gold rebounded and recovered to $1,800, trading around $1,802. The VIX (fear index) rose by about 6.6% and is hovering around 20.5. U.S. industrial production for November, released yesterday, came in at 0.5%, compared to market expectations of 0.6%.

In the foreign exchange market, while cross-yen pairs have been falling since yesterday’s U.S. trading session, GBP/JPY has held its ground and is trading around 151.31.Yesterday, the Bank of England (BOE) announced a rate hike from 0.10% to 0.25%, causing the pound to rise temporarily. It surpassed this month’s high of 152.63. The focus for GBP/JPY will be whether it can break above the recent high of 153.81 on the 4-hour chart.

Today’s key events include a press conference by Bank of Japan Governor Kuroda at 3:30 p.m., UK retail sales and German producer price index at 4:00 p.m., the German IFO Business Climate Index at 6:00 p.m., the final Eurozone consumer price index at 7:00 p.m., the Canadian house price index at 10:30 p.m., and remarks by Fed Governor Waller at 3:00 a.m.We will be closely monitoring how the various currencies, which have shown some movement heading into the weekend, perform during today’s U.S. trading hours.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed