Precise Investors Editorial Team
Meanwhile, the US Dollar Index slipped 0.4% in early Asian trade, while US Dollar Index Futures also dropped 0.4%
Most Asian currencies edged higher on Monday. The Japanese yen’s USD/JPY pair dropped 0.5%, with the currency aided by safe-haven appeal.
The South Korean won’s USD/KRW edged down 0.2%, while the Chinese yuan’s offshore USD/CNH pair ticked 0.1% lower.
The Indian rupee’s USD/INR pair traded largely flat, while the Singapore dollar’s USD/SGD ticked down 0.1%.
The Australian dollar’s AUD/USD pair edged 02% lower.
Meanwhile, the US Dollar Index slipped 0.4% in early Asian trade, while US Dollar Index Futures also dropped 0.4% as of 05:04 GMT.
Last week, the U.S. Supreme Court ruled that Trump’s sweeping tariffs introduced under emergency powers were not legally justified, striking down a key pillar of his trade agenda. Markets initially interpreted the decision as a potential easing of trade frictions and a positive signal for global growth.
In response, President Donald Trump announced a new 10% global tariff on imports for 150 days under Section 122 of U.S. trade law, before raising the rate to 15%, the maximum allowed under that provision.
This complicated the outlook for Asian exporters, on which many of U.S. consumers rely on. Countries such as South Korea, Japan, and several economies had previously negotiated trade arrangements or tariff exemptions with Washington.
Equity markets were mixed, reflecting lingering caution about the impact of higher U.S. tariffs on supply chains and capital flows.
Adding to market caution were U.S. economic releases last week showing slower economic growth and persistent inflation, further clouding the outlook for that country’s interest rate policy.
The combination of soft growth and sticky inflation has pushed back expectations for meaningful rate cuts this year.
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