April 11, 2016: The GBP is the strongest. The JPY is the weakest.
As NA traders rub the sleepy stuff out of their eyes and prepare the new trading week, they are looking at the GBP as the strongest currency and the JPY as the weakest. The GBP has been the beneficiary of GBPJPY racing higher. That has helped drag the GBPUSD and EURGBP along with it (EURGBP lower). The JPY has a lower stock market but honestly, apart from the move in in the GBPJPY, the changes are fairly close to the levels from Friday (although NZDJPY is moving higher after a dip during the Asian pacific trading session.
Below are the trading ranges for the major currency pairs and along with the moved away from the Friday closes. The EURUSD is in a small 56 pip trading range. All the other major pairs are confined as well with the exception of the GBPUSD which has surged higher. Last week, the EURUSD traded in a 127 pip trading range. That was the 3rd lowest going back to September 2014. This week we will be looking for something more. So be on the lookout for a break.
