Should we keep a close eye on the trends in cross-yen pairs, which are generally returning to a stronger yen?

Should we keep a close eye on the trends in cross-yen pairs, which are generally returning to a stronger yen?

15.02.2024

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen after the U.S. MBA Mortgage Applications Index, released yesterday, dropped to -2.3% from the previous reading of 3.7%. The USD/JPY pair fell from 150.788 to 150.350.During today’s Asian trading session, the pair has continued to hit new lows, falling to 150.152. We will need to watch price movements during U.S. trading hours to see if this decline will offset the sharp rally triggered by the U.S. CPI release.

European currencies saw the pound fall sharply against the yen after yesterday’s release of UK January retail sales data showed a year-on-year decline from 5.2% in the previous month to 4.9%. The GBP/JPY pair fell from 189.833 to 188.771.During today’s Asian trading session, the pair has continued to test lower levels, falling to 188.631. We will be watching closely to see if the pound remains weak against the yen and the corrective price movement continues.

Today, Japan’s GDP is scheduled for 8:50, South Korea’s trade balance for 8:55, Singapore’s GDP for 9:00,9:30 AM: Australian employment data, 1:30 PM: Japanese industrial production, 4:00 PM: UK GDP, UK industrial production, and Norwegian trade balance, 4:30 PM: Swiss producer import prices, 5:00 PM: Swiss consumer confidence index, remarks by ECB President Lagarde, 7:00 PM:trade balance, 10:30 PM US retail sales, US Philadelphia Fed Business Outlook Index, US initial jobless claims, 11:15 PM US industrial production, and 12:00 AM US business inventories. We will closely monitor the movements of cross-yen pairs, which are generally returning to a yen-strengthening trend.

Past Market Reports

1. 20.04.2026New

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

2. 17.04.2026New

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

3. 16.04.2026New

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

4. 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

5. 14.04.2026New

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

6. 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

7. 10.04.2026

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

8. 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?

9. 08.04.2026

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

10. 07.04.2026

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