EUR/USD dips lower with the Dollar rallying after a US court ban on tariffs
EUR/USD is trading with moderate losses, around 1.1275 at the time of writing, after bouncing up from 1.1213 lows on the back of a significant US Dollar (USD) jump, following a US court ruling against trade tariffs.
The three judges from the US Court of International Trade have voted unanimously against US President Donald Trump’s sweeping trade tariffs, as they consider that the exclusive authority to regulate commerce resides with Congress.
The news has boosted risk appetite, triggering significant rallies on the US Dollar and sending Asian Stock markets higher. Eurozone and Wall Street futures are also pointing to a positive opening.
Investors have welcomed the court ruling. Trump’s tariffs had fuelled concerns that higher inflationary pressures and a weaker economic outlook would pose a headache to the Federal Reserve (Fed), as the minutes of the last monetary policy meeting revealed.
Source: Fxstreet
