Forex Today, Sep 24: Dollar Gains, Swiss Franc Slips

By Pratik Algo | September 24, 2026

*Price snapshots retrieved during 13:33–13:38 UTC. News checked through 13:38 UTC. Retrieval times are not verified transaction timestamps. All event times below are UTC; add 5 hours 30 minutes for IST.*

Forex today is dominated by a firm US dollar, with EUR/USD below 1.1400, GBP/USD near 1.3224 and USD/JPY approaching 159.00. The dollar was stronger against all seven major counterparts in the retrieved quotes, although individual currencies have different domestic pressures.

Thursday’s developments include the Swiss National Bank holding its rate at zero, mixed Australian employment figures and weaker Canadian retail sales for July. US unemployment claims also remained low, keeping the interest-rate outlook central to currency trading.

Major currency pairs: price snapshot

Quotes are indicative, may lag and are not synchronised across pages. Ranges can expand during the session.

Rising USD/JPY, USD/CHF and USD/CAD indicate dollar strength; falling EUR/USD, GBP/USD, AUD/USD and NZD/USD indicate the same direction.

Why the dollar remains supported

The retrieved Dollar Index reading was 101.26, with a session range of 101.00–101.32. Reuters reported that the dollar had reached a fresh two-month high as investors reassessed the likelihood of further Federal Reserve tightening.

The Fed raised its target range to 3.75%–4.00% on September 16. That was last week’s decision, not a new announcement today.

Today’s US initial jobless claims were 197,000, down 1,000 from the previous week’s revised 198,000. The reporting week ended September 19. Continuing claims, covering the earlier week ending September 12, rose to 1.719 million.

Pratik Algo assessment: Limited new layoffs can reinforce expectations that the Fed has room to focus on inflation. The dollar’s next move still depends on how incoming information changes expectations; a strong reading does not guarantee another rate hike or an uninterrupted currency rally.

EUR/USD: German confidence improves, but 1.1400 remains overhead

Germany’s ifo Business Climate Index rose to 89.9 in September from 88.8 in August, with better assessments of current conditions and expectations. This was a September 24 release and offers a constructive domestic counterweight to dollar strength.

EUR/USD nevertheless remained below 1.1400 in the retrieved quote. Our immediate references are the observed 1.1362 session low and the 1.1399–1.1400 area, combining the session high with a round number. Sustained recovery above the upper area would improve the short-term picture; a break beneath the low would favour continued downside pressure.

GBP/USD: Slower growth complicates the inflation outlook

Wednesday’s UK flash composite output index fell to 51.7 from 52.5, while S&P Global reported intensifying inflation pressure. Output was still expanding, but more slowly. These are September 23 survey results, not a fresh release today.

Our interpretation is that this combination complicates the Bank of England’s choices: higher costs argue for inflation vigilance, while softer activity limits confidence in the growth outlook.

For GBP/USD, 1.3215 and 1.3256 mark the retrieved session boundaries. The nearby 1.3200 round number is a reference below the range, not established support.

USD/JPY: Near the session high, with intervention sensitivity

USD/JPY was close to its recorded 158.89 session high. Reuters reported renewed Japanese official comments concerning the principles behind July’s coordinated currency intervention. Such comments keep abrupt yen moves on the watchlist.

The immediate upside area is 158.89–159.00; 159.00 is a psychological reference, not an official intervention threshold. A reversal back below the provider’s previous close of 158.32 would weaken the day’s upward move. The recorded low was 157.80.

USD/CHF: SNB holds at zero

The Swiss National Bank left its policy rate at 0% on September 24 and retained its willingness to operate in foreign-exchange markets when needed. It described only a slight increase in medium-term inflation pressure, despite higher energy prices.

Our assessment is that the policy-rate contrast with the US remains relevant to USD/CHF. The pair was near its observed 0.8284 session ceiling. Holding above that level would extend the intraday move; failure to sustain a breakout would favour consolidation. The 0.8300 round number is a watch level, not a promised target.

AUD/USD and NZD/USD: A mixed Australian jobs report

Australia added 39,500 jobs in August, but the unemployment rate rose to 4.6% and full-time employment fell by 6,300. Participation increased to 67.1%. The ABS also cautioned about short-term survey effects and recommended trend data for judging underlying conditions.

This mixed picture helps explain why a positive headline employment number should not automatically be treated as bullish for the Australian dollar. AUD/USD’s retrieved range was 0.7018–0.7052, with 0.7000 a lower psychological reference.

NZD/USD was also softer, trading within 0.5666–0.5686. Its decline supports the observation of broad dollar strength, but the Australian employment release should not be presented as New Zealand economic data.

USD/CAD: July retail weakness, with an August rebound estimate

Canadian retail sales fell 0.7% in July, while sales volumes declined 1.1%. However, Statistics Canada’s early estimate pointed to a 1.3% increase in August. That advance figure is unofficial and subject to revision.

The report therefore contains both weakness and a possible rebound. USD/CAD was at its retrieved 1.4124 session high, with 1.4093 marking the lower boundary. Oil and broader dollar demand can influence the pair alongside domestic spending data.

Upcoming forex events

These events remained ahead at the research cutoff. All times are UTC, converted from each calendar page’s stated timezone.

Schedules may change.

What could change the current forex outlook?

Further data that strengthens expectations of US tightening could preserve the dollar’s advantage. Softer demand, lower inflation expectations or less restrictive Fed commentary could instead encourage a reversal. Local news remains important: a broad dollar view does not make every pair an equivalent setup.

The levels above are observed prices and clearly identified round-number references. Their potential technical roles are our interpretation, rather than independently confirmed support, resistance or entry signals.

Explore more daily research in the Pratik Algo Market Overview.

*Educational market commentary, not personalised investment advice. Prices and scenarios may change after the stated cutoff. Cover: AI-generated editorial illustration.*