Attention May Turn 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
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. On the hourly chart, the price moved from the -2σ to the +2σ 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/yen pair rose 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 17:00, the German IFO Business Climate Index; at 21:30, the Canadian Consumer Price Index and the U.S. Current Account Balance;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
