Attention is focused on the potential for a rebound in the U.S. dollar and the continued rise of the Swiss franc
24.06.2025
- Remarks by U.S. Federal Reserve Chair Powell
- Remarks by Ramsden, Deputy Governor of the Bank of England
In yesterday's U.S. currency trading, the U.S. dollar fell against the euro. The EUR/USD pair rose from 1.1454 to 1.1580. On the hourly chart, the price moved from the -2σ to the +2σ Bollinger Band.On the 4-hour chart, the RSI surged from 41 to 66. On the daily chart, the 20-day moving average (20MA) acted as a support level, causing a rebound. We will closely monitor whether the USD’s upside remains limited and prices continue to fall, or if there is room for a rebound.
Among European currencies, the Swiss franc emerged as the strongest performer toward the end of the U.S. trading session. The CHF/JPY pair rose from 178.687 to 180.858. An uptrend has formed 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 has continued since the start of this month, supported by the 10-day moving average. It will be worth watching whether the Swiss franc can maintain this momentum.
Today’s schedule includes the German IFO Business Climate Index at 5:00 PM, the Canadian Consumer Price Index and U.S. Current Account at 9:30 PM, remarks by ECB President Lagarde and the U.S. Housing Price Index and S&P/Case-Shiller Home Price Index at 10:00 PM, and at 10:35 PM, remarks byRemarks by BOE Deputy Governor Ramsden, at 11:00 PM: Remarks by Fed Chair Powell, the Richmond Fed Manufacturing Index, and the Conference Board Consumer Confidence Index, at 1:30 AM: Remarks by NY 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 momentum can be sustained.
Author: Keisuke Sakurai
