All eyes are on whether the franc, now the world’s strongest currency, will maintain its momentum

All eyes are on whether the franc, now the world’s strongest currency, will maintain its momentum

19.01.2023

In the previous session, the U.S. dollar traded in a back-and-forth pattern against the euro, with the EUR/USD pair ranging between 1.0766 and 1.0887.The EUR/USD pair is currently in a consolidation phase straddling the 20-period moving average (MA) on the 4-hour chart, with price action seeking direction. On the other hand, on the higher timeframe daily chart, the 10-period MA is acting as support, and the uptrend remains intact. Therefore, we will be closely watching to see if today’s release of the ECB Governing Council minutes sparks any movement.

While European currencies saw cross-yen pairs generally trading in a range-bound market, the Swiss franc found support at lower levels and halted its decline. The CHF/JPY pair rose by about 3.8 yen from 138.615 to 142.437 before pulling back to 140.397. As the Swiss franc also strengthened against the U.S. dollar, we will be watching its price movements during U.S. trading hours today.

Today’s schedule includes Swiss producer import prices at 4:30 PM, remarks by ECB President Lagarde at 7:30 PM, the TCMB policy rate and statement release in Turkey at 8:00 PM, the publication of the ECB Governing Council minutes at 9:30 PM, and Canadian wholesale sales at 10:30 PM,Canada: Housing Price Index; US: Initial Jobless Claims, Housing Starts, Philadelphia Fed Business Outlook Index; 11:00 PM: US: Collins:Boston Fed President’s remarks, 12:30 AM: US weekly natural gas inventories, 1:00 AM: US weekly crude oil inventories, 3:15 AM: US Brainard: Fed Vice Chair’s remarks. We will carefully monitor the direction of the Swiss franc to see if its momentum as the strongest currency continues.

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. 15.04.2026New

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

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. while gauging the direction of currency strength and weakness?

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?