Will the Swiss franc, which has been gaining strength, continue its upward momentum during European trading hours?

Will the Swiss franc, which has been gaining strength, continue its upward momentum during European trading hours?

12.09.2022

Last weekend, the U.S. dollar index traded sideways around 108.6 before trending lower, causing the euro/dollar pair to rise.The pair rose by approximately 120 pips from last weekend’s low of 0.9992 to 1.0113. During today’s Asian session, it has continued its upward trend without fully filling the gap left by the opening. On the 4-hour chart, the pair is positioned just below the 200-period SMA. If it breaks above the 200-period SMA, the upper limit of the downtrend line at 1.0129 will act as a resistance level, so we should be cautious of a potential pullback.

Amid a broad strengthening of the yen, the Swiss franc held firm on the downside, limiting the CHF/JPY pair’s decline to 120 pips, from 148.825 to 147.519. Notably, the pair hit a new high for the year during today’s Asian trading session, and the current rate stands at 148.871. With the SNB’s policy rate announcement scheduled for next week, we will be watching to see if the franc continues to strengthen.

Today, at 15:00 Asia time, UK GDP, UK industrial production, UK manufacturing production, UK trade balance, and Japanese machine tool orders will be released; at 16:00 Europe time, Turkey’s current account balance,Turkish employment statistics, at 21:00: Indian industrial production and Indian consumer price index, and at 24:30 US time: US 3-year Treasury auction and US 10-year Treasury auction. Chinese markets are closed today for the Mid-Autumn Festival. We will be watching to see if the Swiss franc, which has been strengthening, continues to make gains during European trading hours.

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?