Attention is turning to the pound’s potential for further recovery following its rebound against the U.S. dollar

Attention is turning to the pound’s potential for further recovery following its rebound against the U.S. dollar

29.09.2025

Last weekend, the U.S. dollar hit its weakest level during U.S. trading hours, despite the U.S. August PCE Price Index—released on the 26th—coming in higher than expected on both a year-over-year and month-over-month basis. The USD/JPY pair edged lower from 149.956 to 149.399.On the hourly chart, the price moved from above the 20-period moving average to below it. On the 4-hour chart, a pullback occurred from the +2σ level of the Bollinger Bands, and on the daily chart, the price fell after reaching a new high for the month.

Among European currencies, the pound was the strongest during U.S. trading hours. GBP/USD rose from 1.3328 to 1.3413. It recovered from below the 20-period moving average on the hourly chart to above it.On the 4-hour chart, the price has retreated from the -3σ Bollinger Band back to the centerline. The daily chart shows a similar price movement to the 4-hour chart, marking a rebound from this month’s low. On the weekly chart, the price is positioned just below the 20-day moving average (MA), which serves as a support line, so we will be watching closely to see if it breaks below the 20-MA.

Today’s schedule includes the Japan Economic Sentiment Index at 2:00 PM, remarks by Bank of Japan Board Member Noguchi at 2:30 PM, UK Consumer Credit, UK Money Supply, and UK Mortgage Approvals at 5:30 PM, the Eurozone Consumer Confidence Index, Eurozone Economic Sentiment, and remarks by German Bundesbank President Nagel at 6:00 PM, and at 9:00 PM, the UKRemarks by BOE Deputy Governor Ramsden, at 20:30 remarks by Fed Governor Waller, at 23:00 the U.S. Existing Home Sales Pending Index, at 23:30 the U.S. Dallas Fed Manufacturing Activity Index, and at 02:30 remarks by NY Fed President Williams. We will be watching for further recovery potential in the pound, which has shown signs of a rebound against the U.S. dollar.

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