UOB Global Economics & Markets Research notes that the US Dollar weakened after the Supreme Court ruled President Trump had exceeded his authority on earlier global tariffs, even as new 15% tariffs were announced under a different law. The Dollar index slipped, while upcoming US data, Fed communication and Trump’s State of the Union are flagged as key drivers for DXY and broader Dollar sentiment.
Dollar softens after Supreme Court ruling
“The US dollar fell last Fri in a knee-jerk reaction to the Supreme Court’s ruling that US President Donald Trump exceeded his authority when he imposed sweeping global tariffs against most US trading partners.”
“Earlier, the greenback was steady following a series of US data releases, including personal consumption expenditure.”
“The US dollar index (DXY) closed last Fri’s session at 97.79 (-0.13%) after touching lows of 97.58.”
“This week, the focus will be on Trump’s new tariff plan.”
“Tonight, the US economic docket kicks off with the Chicago Fed national activity index for Jan.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Source: https://www.fxstreet.com/news/dxy-tariff-shock-weighs-on-dollar-uob-202602230611
