Should We Be Wary of the Upside Potential for the Rising Swiss Franc?

Should We Be Wary of the Upside Potential for the Rising Swiss Franc?

23.10.2025

In the previous day’s U.S. currency trading, the U.S. dollar rose slightly against the yen. The USD/JPY pair rose from 151.499 to 152.044. It held steady, supported on the downside by the 200-period SMA on the hourly chart.On the 4-hour chart, the uptrend along the 20-period moving average (MA) continues, and on the daily chart, the RSI is currently rising from 53 to 60. Since the pair has already touched the mid-152 yen level during today’s Asian trading session, traders should watch for further gains during U.S. trading hours.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair rose from 190.393 to 190.948, with price action straddling the 20-period moving average on the hourly chart.On the 4-hour chart, the uptrend along the 10-period moving average continues, and the daily chart shows a similar price movement to the 4-hour chart. Furthermore, during today’s Asian trading session, the Swiss franc strengthened further, touching the 191-yen level.

Today’s economic indicators include the UK CBI Business Survey at 19:00, the Turkish Central Bank’s (TCMB) policy rate announcement and statement at 20:00, Canadian retail sales at 21:30, remarks by UKremarks by MPC member Dingra, at 23:00 U.S. existing home sales, at 23:25 remarks by Fed Vice Chair Bar, at 23:30 U.S. weekly natural gas inventories, and at 24:00 the U.S. Kansas City Fed Manufacturing Activity Index.Note that the scheduled release of U.S. initial jobless claims remains postponed due to the U.S. government shutdown. Investors should remain highly vigilant regarding the upside potential of the Swiss franc, which is currently on the rise.