FX.co ★ Dollar Climbs as US Trade Court Blocks Trump Tariffs

The dollar index surpassed the 100 mark on Thursday, marking its third consecutive session of gains. This upward trend followed a federal court's decision that President Donald Trump exceeded his authority by implementing reciprocal tariffs. The US Court of International Trade deemed these tariffs "unlawful for all" parties, not solely the five US businesses that initiated the lawsuit, and ordered their removal and a permanent injunction. The Trump administration is anticipated to challenge this ruling through an appeal. In parallel, investors are closely monitoring the ongoing debates in the US Senate regarding Trump’s extensive tax and spending proposal, which is anticipated to undergo substantial modifications in the upper chamber. In terms of monetary policy, the latest minutes from the Federal Open Market Committee (FOMC) revealed that officials are taking a prudent, observant stance, intending to evaluate the economic implications of recent government decisions and tariff issues. Policymakers also observed an increase in the risks of both inflation and unemployment rising.