All eyes are on whether the pound, which has been strengthening against the U.S. dollar, will continue to rise

All eyes are on whether the pound, which has been strengthening against the U.S. dollar, will continue to rise

24.12.2025

In yesterday’s U.S. currency trading, the Canadian dollar fell against the yen after Canada’s October real GDP, released yesterday, came in at 0.4% year-on-year, down from 1.0% the previous month. The CAD/JPY pair fell from 114.221 to 113.488.Price action remained confined to the area around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, while the pair is barely holding above the 20-MA, resistance is building, and on the daily chart, the RSI has pulled back from the 70 line.

Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair climbed from 1.3443 to 1.3517. The uptrend along the 10-period moving average on the hourly chart continued. The 4-hour chart shows a similar price movement to the hourly chart, and the daily chart has recovered to levels not seen since September of this year. As the pair continues to test higher levels during today’s Asian session, we will be closely monitoring the direction of the market during European trading hours.

Today’s key economic indicators include the Japan Corporate Services Price Index and the release of the BOJ meeting minutes at 8:50 a.m., the Japan Economic Sentiment Index at 2:00 p.m., the U.S. MBA Mortgage Applications Index at 9:00 p.m., U.S. initial jobless claims at 10:30 p.m., and the U.S. 7-year Treasury auction at 1:30 a.m.Please note that due to Christmas Eve, markets in Europe, the U.S., and other countries will have shortened trading hours or be closed today. We will be watching closely to see if the pound, which has been firm against the U.S. dollar, will extend its gains.

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