Market participants are watching to see if the Swiss franc will hit a new high against the yen

Market participants are watching to see if the Swiss franc will hit a new high against the yen

02.08.2023

In the U.S. currency market yesterday, the U.S. dollar strengthened against the euro after the U.S. June JOLTS job openings report, released yesterday, showed an increase from 9.824 million in the previous month to 9.582 million. The EUR/USD pair fell from 1.1003 to 1.0951. The downtrend continued as the pair faced resistance at the 10-period moving average on the 4-hour chart.Although the EUR/USD pair showed a temporary rebound last weekend, the daily RSI has been trending downward from above 70, so investors should remain cautious of a continued decline in the euro.

Among European currencies, the Swiss franc traded in a narrow range against the yen today ahead of the release of the manufacturing PMI. While other yen crosses rose, the CHF/JPY pair faced resistance at higher levels and fluctuated within the 162.884–163.819 range.Technically, CHF/JPY is currently trading at record highs, and the break above the 20-period moving average on the 4-hour chart earlier this week has had a significant impact. Therefore, it will be worth watching to see if the Swiss franc extends its gains during European trading hours.

Today’s schedule includes Thailand’s policy rate at 4:00 PM, Switzerland’s SVME Purchasing Managers’ Index at 4:30 PM, Brazil’s Consumer Price Index at 5:00 PM, the U.S. MBA Mortgage Applications Index at 8:00 PM, the U.S. ADP Employment Report at 9:15 PM, Singapore’s Manufacturing PMI at 10:00 PM, U.S. weekly crude oil inventories at 11:30 PM, and Russia’sunemployment rate, and Russia’s retail sales. We will be watching closely to see if the Swiss franc can reach a new high against the yen.

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