U.S. court ruling on Trump's tariffs caused the dollar to plummet and supported the pound

2026-02-27 08:11:24

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The U.S. Supreme Court ruled against the tariffs imposed by President Donald Trump, which immediately impacted global currency markets. According to RTHK, the U.S. dollar lost ground after a four-day upward trend, ending a series of gains with a 0.1% decline.

The dollar index fell to around 97.8 points, although it still shows a weekly gain of about 1%. This reversal reflects market concerns over the potential cancellation or revision of the tariff program. The court’s decision reduced demand for the U.S. dollar, which traditionally strengthens when trade barriers increase.

Against this backdrop of a weaker dollar, European currencies rose. The British pound advanced 0.2%, reaching $1.3482 per pound, solidifying its position as a winner. The euro showed little change, staying around $1.178 against the dollar.

The Japanese yen, on the other hand, remained relatively stable against the dollar, holding at 155.05 yen per dollar. Investors continue to monitor developments around U.S. tax policy, which could have long-term effects on the dynamics of major global currencies, including the pound and the dollar.

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