All eyes are on whether the rising pound will be affected by comments from key figures

All eyes are on whether the rising pound will be affected by comments from key figures

08.11.2022

Yesterday, the U.S. dollar fell under pressure from the pound, which emerged as the strongest currency, with GBP/USD surging by as much as 250 pips from 1.1289 to 1.1539. GBP/USD continues to rebound from the lower boundary of its uptrend line on the 4-hour chart and has already broken above the 200-period SMA and 75-period EMA on that timeframe.We will carefully monitor whether today’s remarks from key officials could trigger a further decline in the U.S. dollar.

Among European currencies, the pound continued to rise against the yen, with GBP/JPY climbing more than 3 yen from 165.630 to 169.064.GBP/JPY is currently trading at 168.789, just below the 200-period simple moving average (SMA) on the hourly chart, and appears to be taking a brief pause after its recent rally. If the upward trend continues, the pair could rise to 171.130, the upper limit of the uptrend line, so we will be closely monitoring price movements heading into the latter half of the week.

Today’s schedule includes France’s trade balance and current account at 16:45 CET, remarks by German Bundesbank President Nagel at 17:00, remarks by Swiss National Bank (SNB) President Jordan at 17:15, remarks by SNB Board Member Meckl at 17:30, remarks by UK MPC member Pill at 18:00, and at 18:30, Australia’sRBA Governor Lowe’s remarks at 5:00 PM, EU retail sales at 7:00 PM, and the US NFIB Small Business Optimism Index at 8:00 PM, followed by UK MPC Member Pill’s remarks at 1:00 AM US time and a US 3-year Treasury auction at 3:00 AM US time. We will be watching to see if the rising pound reacts to these key speeches.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 16.04.2026New

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

5. 15.04.2026

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

6. 14.04.2026

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

7. 13.04.2026

   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. 10.04.2026

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

9. 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?

10. 08.04.2026

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