Attention Turns to the U.S. Dollar’s Potential for a Rebound and the Swiss Franc’s Continued Rise
24.06.2025
- Remarks by U.S. Federal Reserve Chair Powell
- Remarks by Ramsden, Deputy Governor of the Bank of England (BOE)
In the U.S. currency market yesterday, the U.S. dollar fell against the euro. The EUR/USD pair rose from 1.1454 to 1.1580. It moved from the -2σ to the +2σ levels of the hourly Bollinger Bands.On the 4-hour chart, the RSI surged from 41 to 66. On the daily chart, the 20-period moving average (MA) acted as a support level, causing the price to rebound. We will closely monitor whether the USD’s upside remains limited and the price continues to fall, or if there is room for a rebound.
Among European currencies, the Swiss franc emerged as the strongest toward the end of the U.S. trading session. The franc rose against the yen from 178.687 to 180.858. An uptrend developed along the +2σ line of the hourly Bollinger Bands.On the 4-hour chart, the RSI surged to 82. On the daily chart, the upward trend—supported by the 10-day moving average—has continued since the start of this month. It will be worth watching whether the Swiss franc’s momentum holds.
Today, at 5:00 p.m., the German IFO Business Climate Index will be released; at 9:30 p.m., the Canadian Consumer Price Index and the U.S. Current Account Balance will be released;at 10:00 p.m., remarks by ECB President Lagarde and the U.S. Housing Price Index and S&P/Case-Shiller Home Price Index; at 10:35 p.m., remarks by BOE Deputy Governor Ramsden;at 11:00 PM, remarks by U.S. Federal Reserve Chair Powell, the U.S. Richmond Fed Manufacturing Index, and the U.S. Conference Board Consumer Confidence Index; at 1:30 AM, remarks by U.S. New York Fed President Williams; and at 2:00 AM, a U.S. 2-year Treasury auction.We will carefully assess whether the Swiss franc’s recent upward trend is sustainable.
Author: Keisuke Sakurai
