Should we keep a close eye on the pound’s price movements as the upward trend continues?

Should we keep a close eye on the pound’s price movements as the upward trend continues?

27.05.2022

In the U.S. currency market yesterday, the Dollar Index fell slightly to 101.5, and the USD/JPY pair dropped by about 100 pips from 127.56 to 126.54. Since the Yen Index has been on an upward trend since bottoming out on April 28, we need to carefully assess whether the USD/JPY pair will fall further, while also factoring in the U.S. market closure at the start of the week.

European currencies saw the pound’s upward momentum continue, with GBP/USD rising by approximately 70 pips from 1.255 to 1.262. GBP/USD rose further during today’s Asian trading session, climbing to 1.266. Since it has surpassed its recent high on the daily chart and set a new high for the month, we will be watching closely to see if the pound’s momentum continues.

No major economic indicators are scheduled for release during European trading hours today. However, once U.S. trading begins, the following releases are scheduled: remarks by U.S. Federal Reserve Bank of St. Louis President Bullard at 8:35 p.m., U.S. personal income, personal spending, core PCE deflator, and wholesale inventories (flash estimate) at 9:30 p.m., and the University of Michigan Consumer Sentiment Index at 11:00 p.m.We will be closely monitoring the pound, as its upward momentum shows no signs of abating.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 16.04.2026New

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

6. 15.04.2026

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

7. 14.04.2026

   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

8. 13.04.2026

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

9. 10.04.2026

   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?

10. 09.04.2026

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