Market participants are likely keeping a close eye on the upside potential of the Swiss franc, which rebounded sharply at the end of the month

Market participants are likely keeping a close eye on the upside potential of the Swiss franc, which rebounded sharply at the end of the month

01.08.2025

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the June PCE deflator—including the core index—was released yesterday, showing increases both year-over-year and month-over-month. The USD/JPY pair rose from 148.592 to 150.842, with a sharp surge observed from the 20-period moving average on the hourly chart.On the 4-hour chart, a band walk along the +2σ line of the Bollinger Bands was confirmed, while on the daily chart, the RSI rose from 60 to 70. The pair broke through the key 150 yen level and set a new high for the month.

Among European currencies, the Swiss franc emerged as the strongest performer during U.S. trading hours. The CHF/JPY pair rose from 182.657 to 185.695, rebounding sharply from the -3σ to the +2σ levels of the Bollinger Bands. On the 4-hour chart, the 200-period SMA has acted as a support level, triggering a rebound, while on the daily chart, the candlesticks—which had been trading below the 20-period MA—have swung back above it.We will be watching closely to see if the Swiss franc continues to extend its gains during today’s U.S. trading session.

Today’s economic indicators include Japan’s unemployment rate at 8:30, Australia’s Q2 Producer Price Index at 10:30, the UK’s Nationwide House Price Index at 15:00, France’s Manufacturing PMI at 16:50, Germany’s Manufacturing PMI at 16:55, the Eurozone’s Manufacturing PMI at 17:00,UK Manufacturing PMI at 5:30 PM, Eurozone Consumer Price Index at 6:00 PM, US Employment Report at 9:30 PM, US Manufacturing PMI at 10:45 PM, US ISM Manufacturing PMI at 11:00 PM, US University of Michigan Consumer Sentiment Index, and US Construction Spending. We want to carefully assess the upside potential of the Swiss franc, which rebounded sharply at the end of the month.

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