Should we wait and see if the weakening of the U.S. dollar, which has accelerated due to the decline in the U.S. PPI, will continue?

Should we wait and see if the weakening of the U.S. dollar, which has accelerated due to the decline in the U.S. PPI, will continue?

14.07.2023

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen after the U.S. Producer Price Index (PPI) for June, released yesterday, declined from 1.1% to 0.1% year-over-year. The USD/JPY pair fell by about 1 yen, from 138.933 to 137.910.The decline continued during today’s Asian trading session, with the pair touching 137.275. Technically, USD/JPY has shown a slight rebound after touching the weekly 200-day moving average (SMA), so we will be watching closely to see if the upward momentum strengthens during European trading hours.

Despite the fact that the EU’s May industrial production, released yesterday, fell from 0.2% to -2.2% year-on-year, the euro rose against the yen.The EUR/JPY pair rebounded from 153.881 to 155.125, rising to just below the daily 20-day moving average (MA). During the early Asian session today, the pair faced resistance at the daily 20-day MA, but it has since recovered in the latter half of the session. It will be worth watching to see if a trend toward a weaker yen resumes during U.S. trading hours.

Today’s economic indicators include Norway’s trade balance at 3:00 PM, Switzerland’s producer import prices at 3:30 PM, Turkey’s home sales at 4:00 PM, the Philippines’ consumer price index at 5:00 PM, and the Eurozone’s, 9:00 PM: Brazil Retail Sales, 9:30 PM: Canada Manufacturing Shipments and U.S. Import Price Index, 10:00 PM: Canada Existing Home Sales, and 11:00 PM: U.S. University of Michigan Consumer Sentiment Index (Preliminary). We will be closely monitoring price movements over the weekend to see if the weakening of the U.S. dollar, which has accelerated due to the decline in the U.S. PPI, will continue.

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