Market participants are keeping a close eye on the euro's upside potential against the pound
28.10.2025
- U.S. Consumer Confidence Index
- German GfK Consumer Confidence Survey
In yesterday's U.S. currency trading, the U.S. dollar rose slightly against the yen. The USD/JPY pair climbed from 152.563 to 153.248. Price action was seen moving across the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the uptrend along the 10-period MA continues, and on the daily chart, prices are approaching this month's high. Meanwhile, ahead of tomorrow's FOMC meeting, the U.S. dollar has been weakening during today's Asian trading session.
Among European currencies, the euro rose against the pound. The EUR/GBP pair climbed from 0.8719 to 0.8736. The price rebounded from the -2σ level of the hourly Bollinger Bands. On the 4-hour chart, the price has extended to the +3σ level of the Bollinger Bands, and on the daily chart, the 75-day moving average is acting as a support level, with the rebound continuing. Furthermore, the euro is continuing to rise during today’s Asian trading session.
Today’s key economic indicators include the German GfK Consumer Confidence Survey at 4:00 p.m., the U.S. S&P/Case-Shiller Home Price Index at 10:00 p.m., the U.S. Consumer Confidence Index and the Richmond Fed Manufacturing Index at 11:00 p.m., and a U.S. 7-year Treasury auction at 2:00 a.m. We will be closely monitoring the euro’s upside potential following its rise against the pound.
Author: Keisuke Sakurai
