Market players learned Friday that the US Supreme Court ruled against President Donald Trump’s use of the International Emergency Economic Powers Act to justify a big chunk of country-specific tariffs announced since his return to the White House.
EUR/USD Forex Signal: US Tariff Confusion Sends Price Higher
The US Dollar hasn’t taken well the tariff-related mess seen over the weekend. Renewed uncertainty over US President Donald Trump’s trade policies led to a modest USD pullback, which extended through the early part of the new week.
Silver rallied on Friday as there were a multitude of news announcements for the session coming out of the US, and other places.
The South African rand has rebounded in the past 12 months, making it one of the best-performing currencies globally. The USD/ZAR exchange rate was trading at 16.04, down sharply from last year’s high of 19.93. This retreat may continue after the pair formed a death cross pattern
The USD/MXN exchange rate continued its strong downward trend, reaching its lowest level since June 2024 as the Mexican peso gained momentum after the Supreme Court ruling on Donald Trump’s tariffs. It dropped to 17.1325 on Friday, much lower than last year’s high of 21.28.