The GBP is the strongest and the JPY is the weakest as the NA session begins

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The GBP is the strongest and the JPY is the weakest as the NA session begins

<p>As the North American session begins the GBP is the strongest and the JPY is the weakest. The GBP is reacting to the him new PM Liz Truss who has announced a freeze/cap to UK energy prices. The pair reached to a new low going back to the March 2020 pandemic lows which reached 1.1408. The low price yesterday reached 1.14425 before rebounding back to the upside. The prices back above its 100 hour moving average 1.15523 today. Stay above keeps hopes for a short-term rebound alive.</p><p>The JPY makes new lows going back to 1998 as yield differentials continue to push that currency pair to the upside . The price is trading at the highest level since August 1998 where the price peaked at 147.67. The high price today reached 142.087.</p><p>The US dollar is lower vs. the GBP and the CAD to start the North American session. It is unchanged vs. the EUR and marginally higher vs. the CHF, AUD and NZD.  US stocks are higher after the Labor Day holiday.  Yields are higher.</p><p>The Reserve Bank of Australia increased rates by 50 basis points. The hike did little to support the AUDUSD. The the price has declined to a low 0.6760.That tested the 50% midpoint since the March 2020 pandemic low which cuts across at 0.6756.  The low for the year in that pair did dip below that level during July to 0.66809.</p><p>Looking at other markets</p><ul><li>spot gold is trading up $4.32 or 0.25% at $1713.19</li><li>spot silver is trading up $0.31 or 1.72% at $18.43</li><li>WTI crude oil is trading a $86.81 for October. That's down -0.02%</li><li>Bitcoin is trading at $19,909</li></ul><p>In the premarket for US stocks:</p><ul><li>Dow industrial average is up 208 points</li><li>S&P index is trading up 26.75 points</li><li>NASDAQ index is up 70 point</li></ul>

                This article was written by Greg Michalowski at forexlive.com.

Source: The GBP is the strongest and the JPY is the weakest as the NA session begins

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