Will the pound, which has risen against the U.S. dollar, continue to climb, or should we wait and see?
23.12.2025
- Rice and Durable Goods Orders
- U.S. New Home Sales
In U.S. trading yesterday, the U.S. dollar weakened against the yen. The USD/JPY pair fell from 157.699 to 156.717. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the RSI has plummeted from 78 to 44, and on the daily chart, the price is currently pulling back from the +3σ line of the Bollinger Bands. We will be watching closely to see if the price continues to test lower levels during today’s U.S. trading session.
Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.3372 to 1.3477. A band walk along the +2σ line of the hourly Bollinger Bands was observed. The 4-hour chart also showed a band walk along the +2σ line of the Bollinger Bands, similar to the hourly chart, and the daily chart has recovered to levels not seen since October of this year.
Today’s economic indicators include the release of the RBA minutes at 9:30 AM, Japan’s machine tool orders at 3:00 PM, Germany’s import price index at 4:00 PM, and U.S. real GDP at 10:30 PM,U.S. Core PCE Deflator, Canada’s Real GDP, U.S. Industrial Production, U.S. Capacity Utilization, U.S. New Home Sales at 12:00 a.m., the Richmond Fed Manufacturing Index, and the Conference Board Consumer Confidence Index, followed by a U.S. 5-year Treasury auction at 3:00 a.m. We will be watching carefully to see if the pound, which has risen against the U.S. dollar, can extend its gains.
Author: Keisuke Sakurai
