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

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

24.12.2025

In the U.S. currency market yesterday, 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 range 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 economic indicators include the release of Japan’s Corporate Service Price Index and the minutes of the BOJ meeting at 8:50 a.m., Japan’s 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. We will be watching closely to see if the pound, which has been firm against the U.S. dollar, will extend its gains.