Should we wait and see how much further the Swiss franc can rise?

Should we wait and see how much further the Swiss franc can rise?

02.07.2025

In the U.S. currency market yesterday, the U.S. dollar fell against the yen despite the U.S. June PMI Purchasing Managers' Index, released yesterday, improving to 49.0 from 48.5 the previous month. The USD/JPY pair fell from 144.033 to 142.689.The pair fell after encountering resistance at the 20-period moving average on the hourly chart. On the 4-hour chart, the candlesticks have fallen to the -3σ level of the Bollinger Bands, and on the daily chart, the price has dropped to a level matching last month’s low.

Among European currencies, the Swiss franc was the second-strongest after the Japanese yen. The USD/CHF pair fell from 0.7945 to 0.7873. Price action was seen crossing the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the downward trend along the 10-period MA continued, and on the daily chart, the pair hit a new low for the year. We will be watching price movements during European trading hours to see if the Swiss franc can maintain its strength against the U.S. dollar.

Today’s economic indicators include Japan’s monetary base at 8:50, Australia’s housing construction permits and retail sales at 10:30, France’s budget balance at 15:45, and the Eurozone’sEmployment Report, 19:30 UK MPC Member Taylor’s remarks, 20:00 US MBA Mortgage Applications Index, 20:30 US Challenger Layoffs, 21:15 US ADP Employment Report, 23:15 EU ECB President Lagarde’s remarks, and 23:30 US Weekly Crude Oil Inventories.We intend to cautiously monitor the upside potential of the Swiss franc, which continues 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