The dollar index rose above 97.8 on Tuesday, rebounding after coming under pressure in the previous session, as investors continued to weigh ongoing uncertainty surrounding US trade policy. In the latest development, global logistics giant FedEx filed a lawsuit seeking a full refund following the US Supreme Court’s decision to strike down President Donald Trump’s emergency tariffs.
Over the weekend, Trump threatened to raise global tariffs from 10% to 15% in response to the ruling, warning that countries that “play games” with existing trade agreements could face even higher duties. The shifting policy backdrop has fueled concerns that current trade deals could begin to unravel, although key trading partners have so far continued to honor their agreements with Washington.
On the geopolitical front, markets are also watching renewed talks between the US and Iran, scheduled for Thursday. Meanwhile, Japanese media reported that US authorities led last month’s rate checks aimed at supporting the yen.
