Forex Today: US Dollar firms after Trump’s tariff ruling and hawkish Fed stance

💡 DMK Insight

The USD’s bounce back today signals a potential shift in market sentiment following the Supreme Court’s ruling against Trump’s tariffs. This ruling could lead to increased investor confidence, especially if it paves the way for more stable trade policies. Traders should keep an eye on how this affects the USD’s strength against major pairs like the EUR and JPY. If the USD continues to gain traction, it could challenge recent resistance levels, potentially impacting commodities priced in dollars, such as gold and oil. On the flip side, if the market reacts negatively to the ruling’s implications, we might see a quick reversal. Watch for any significant moves in the USD index, particularly around key psychological levels, as this will indicate broader market sentiment shifts.