All eyes are on whether the Swiss franc, now the world’s strongest currency, will continue to rise

All eyes are on whether the Swiss franc, now the world’s strongest currency, will continue to rise

09.05.2024

In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 112.502 to 113.432, reaching just below the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the 200-period SMA is acting as support, and the pair is on the rise.On the daily chart, the pair has risen for three consecutive days, and the RSI has rebounded from 55. Therefore, we will closely monitor whether the Canadian dollar continues to rise against the yen during U.S. trading hours.

Among European currencies, the Swiss franc emerged as the strongest currency during U.S. trading hours. The CHF/JPY pair rose significantly even against the Japanese yen, which was the weakest currency, climbing from 169.909 to 171.366. On the hourly chart, it has already broken above the 200-period SMA, and on the 4-hour chart, an uptrend along the 10-period MA is evident. Since an upward trend is also visible on the daily chart, we should keep an eye on the Swiss franc’s potential for further gains during U.S. trading hours.

Today’s schedule includes South Korea’s current account balance at 8:00, the UK’s RICS House Price Index at 8:01, the Philippines’ real GDP at 11:00, Japan’s Economic Sentiment Index at 14:00, Malaysia’s BNM overnight policy rate at 16:00, the UK’s BOE interest rate decision and statement at 20:00, and South Africa’s manufacturing output atat 8:30 PM UK BOE Governor Bailey’s press conference, at 9:00 PM Mexico’s Consumer Price Index, at 9:30 PM US Initial Jobless Claims, at 12:00 AM Canada’s BOC Governor Macklem’s remarks, at 1:15 AM UK MPC Member Pill’s remarks, and at 2:00 AM the US 30-year Treasury auction.We will be watching closely to see if the Swiss franc, now the strongest currency, will continue to rise.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 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?

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed