Should we keep an eye on the resilience of the Swiss franc, now the weakest currency?

Should we keep an eye on the resilience of the Swiss franc, now the weakest currency?

08.05.2023

Last weekend, the U.S. dollar rose against the yen following the release of the U.S. April employment report on the 5th, which showed average hourly wages had increased by 0.5%.The USD/JPY pair rose by approximately 120 pips from 133.891 to 135.103, rebounding up to the 200-period SMA on the hourly chart. Since the USD/JPY pair rebounded after touching the 20-period MA following a decline from resistance at the daily 200-period SMA, it will be worth watching whether the US dollar continues to rebound against the yen heading into the latter half of the week.

Among European currencies, the Swiss franc emerged as the weakest after the release of April’s consumer price index, which showed a year-on-year decline from 2.9% the previous month to 2.6%. The CHF/JPY exchange rate fell from 151.644 to 150.213.The decline followed the 20-period moving average (MA) on the hourly chart. However, during today’s Asian session, the pair has broken above the 20-period MA and is testing an upward move, so it will be worth watching whether the franc recovers during the European session.

Today’s economic indicators include German industrial production at 3:00 PM, Taiwan’s trade balance at 5:00 PM, the Eurozone investor sentiment index at 5:30 PM, U.S. wholesale inventories at 11:00 PM, the U.S. 6-month bill auction at 12:30 AM, and remarks by Neel Kashkari, President of the Minneapolis Federal Reserve Bank, at 5:45 AM.We will be closely monitoring the Swiss franc’s resilience as it has become the weakest currency.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

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