The American session was marked by significant volatility in global currency markets. The USD weakened against most major currencies, with the euro and the GBP outperforming the US dollar. The GBP reached the highest levels since the Brexit referendum, while the euro also strengthened against the USD. The AUD and the JPY also experienced significant volatility, with the AUD reaching the highest levels since the Chinese stock market crash and the JPY reaching the highest levels since the election of Donald Trump.

Currency volatility during the American session, which typically spans from 8:00 AM to 5:00 PM EST, is often significant due to overlapping trading hours with the European session. This overlap results in higher trading volumes, particularly in major currency pairs like EUR/USD, GBP/USD, and USD/JPY. Economic data releases, such as the U.S. Non-Farm Payrolls and Federal Reserve announcements, can further increase volatility, causing rapid price movements. Traders often capitalize on this volatility, but it also increases the risk of unexpected price swings. The American session's close proximity to the end of the trading day can lead to profit-taking and position adjustments, contributing to the volatility. Understanding these dynamics is crucial for managing risk and optimizing trading strategies during this period.