The Euro was up 0.4% to $1.1820 and sterling rose by 0.3% to $1.3516 through the Asia session, which was lightened a little by a holiday in Japan and China’s Lunar New Year break. The Dollar fell 0.4% to 154.40 Yen .
The Supreme Court found on Friday Trump’s sweeping tariffs exceeded his authority. Trump has responded by lashing out at the court and imposing a blanket 15% levy on imports, as well as insisting higher-tariff deals with trade partners should stay.
“It weakens the dollar in the sense that it potentially benefits non-US growth,” said Sim Moh Siong, Currency Strategist at OCBC Bank in Singapore. He said longer-run foreign exchange implications were less clear, with a hit to US revenues potentially negative for the fiscal position and the Dollar, while a check on Trump’s power may be a positive, by limiting a source of policy volatility.
–Reuters–
