Should we be wary of the upside potential of the rising Swiss franc?
23.10.2025
- Kansas City Fed Manufacturing Activity Index
- CBI Business Survey (UK)
In yesterday'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 its ground, supported by the 200-period simple moving average (SMA) on the hourly chart.On the 4-hour chart, the uptrend along the 20-period moving average 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 session, we should watch for further gains during the U.S. session.
Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair climbed from 190.393 to 190.948, moving above 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. 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 7:00 PM, the Turkish Central Bank’s (TCMB) policy rate announcement and statement at 8:00 PM, and Canadian retail sales at 9:30 PM,22:00 UK: Remarks by MPC Member Dingra, 23:00 US: Existing Home Sales, 23:25 US: Remarks by Fed Vice Chair Bar, 23:30 US: Weekly Natural Gas Inventories, and 24:00 US: 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 rising Swiss franc.
Author: Keisuke Sakurai
