Supreme Court Ruling: Dollar Dips Amid Trade Turmoil

On Monday, the dollar weakened as the U.S. Supreme Court struck down President Trump's tariffs, which could support global growth. Despite potential benefits for non-U.S. growth, confusion remains, especially with Trump's response and geopolitical tensions with Iran. Markets remain cautious ahead of further developments.

The dollar experienced a drop on Monday, following a U.S. Supreme Court decision that invalidated several of President Donald Trump's tariffs. This development is perceived as favorable for global economic growth, although traders remain wary due to ongoing tensions with Iran.

The Euro and Sterling showed gains in the Asian trading session, influenced by the currency market's reaction to the court's ruling. The decision is said to challenge Trump's authority, as the president has aggressively countered by imposing a new 15% levy on imports and upholding high-tariff trade agreements.

Speculation continues about the long-term effects on U.S. fiscal policies, with experts highlighting the uncertainty tied to Trump's economic strategies. Markets are particularly attentive to the U.S. military presence in the Middle East and potential impacts on future trade relations. Analysts foresee an extended period of legal disputes and trading unpredictability.

(With inputs from agencies.)