Market participants are likely keeping a close eye on the movements of the Swiss franc, which has become the weakest currency in contrast to the Japanese yen.

Market participants are likely keeping a close eye on the movements of the Swiss franc, which has become the weakest currency in contrast to the Japanese yen.

08.12.2023

In the previous day’s U.S. trading session, the Canadian dollar fell against the yen following the BOC announcement. The yen’s strengthening trend, which began in early Asian trading, continued through the late U.S. session, with the CAD/JPY pair falling by approximately 4 yen from 108.367 to 104.191.The daily decline was the largest in the past 11 months, and the pair broke well below the 200-day SMA. On the higher timeframe (weekly chart), the pair rebounded and reversed before touching the 75-day MA, so we should pay close attention to price action during U.S. trading hours.

Despite the fact that the seasonally adjusted unemployment rate in Switzerland remained unchanged from the previous month’s 2.1% in the November employment statistics released yesterday, the Swiss franc became the weakest currency during U.S. trading hours. The CHF/JPY pair fell from 168.423 to 162.162.The price broke significantly below the 75-day moving average (MA) on the daily chart and fell below the 20-day MA on the weekly chart. Although CHF/JPY hit an all-time high of 170.504 on the 16th of last month, it has already fallen by about 8 yen in just under a month.

Today’s economic indicators include Germany’s Consumer Price Index and Sweden’s Industrial Production at 4:00 PM, Hungary’s Trade Balance at 4:30 PM,Thailand’s foreign exchange reserves at 16:30, Taiwan’s trade balance at 17:00, U.S. employment statistics and Canada’s capacity utilization rate at 22:30, the University of Michigan Consumer Sentiment Index at 24:00, and Russia’s Consumer Price Index at 25:00. I intend to closely monitor the price movements of the Swiss franc, which has become the weakest currency in contrast to the Japanese 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