All eyes are on whether the U.S. dollar, which has hit a record low, will rebound following remarks by key officials

All eyes are on whether the U.S. dollar, which has hit a record low, will rebound following remarks by key officials

03.06.2025

In the U.S. currency market the previous day, the U.S. dollar was the weakest performer throughout the day.The EUR/USD pair rose from 1.1344 to 1.1448, establishing an uptrend along the 20-period moving average on the hourly chart. On the 4-hour chart, the candlesticks have extended to the +2σ level of the Bollinger Bands, and the daily chart is showing similar price action to the 4-hour chart. We will monitor the situation closely, keeping an eye on comments from key figures, to see if the US dollar continues to weaken and the euro continues to strengthen.

Among European currencies, the pound fell against the yen for the third consecutive day. The GBP/JPY pair dropped from 193.898 to 192.993. It declined gradually, facing resistance at the 20-period moving average on the hourly chart. On the 4-hour chart, a rebound from last month’s lows is beginning to take shape, while the 200-period simple moving average is providing support on the daily chart. We will be watching for signs of a potential shift in the pound’s momentum during today’s U.S. trading session.

Today’s schedule includes the release of Australia’s current account balance and RBA minutes at 10:30, a Japanese 10-year bond auction at 12:35, remarks by BOJ Governor Ueda at 16:50, the Eurozone CPI and employment statistics at 18:00, South Africa’s real GDP at 18:30,at 11:00 PM, U.S. Manufacturing New Orders, U.S. JOLTS Job Openings, and U.S. Durable Goods Orders; at 10:45 PM, remarks by U.S. Chicago Fed President Goolsbee; and at 2:00 AM, remarks by U.S. Federal Reserve Governor Cook. We will be closely monitoring the market direction to see if the U.S. dollar, which has hit a new low, will recover following these key speeches.