Dollar Weakens as SCOTUS Rebuffs President Trump’s Tariffs

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and weighed on the dollar.The dollar fell to its low on Friday after the Supreme Court struck down President Trump’s global tariffs, as the removal of the tariff revenue will boost the US budget deficit. Losses in the dollar are limited after the Dec core PCE price index, the Fed’s preferred inflation gauge, rose more than expected, a hawkish factor for Fed policy.  Also, hawkish comments on Friday from Atlanta Fed President Raphael Bostic supported the dollar, as he said it’s prudent to keep interest rates mildly restrictive.Goldman Sachs Says MP Materials Stock Can Gain More Than 30% From Here. Should You Buy MP Stock?Dollar Retreats as Supreme Court Strikes Down President Trump's TariffsOur exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!US Q4 GDP rose +1.4% (q/q annualized), weaker than expectations of +2.8%.  The Q4 core PCE price index rose +2.7%, stronger than expectations of +2.6%.US Dec personal spending rose +0.4% m/m, stronger than expectations of +0.3% m/m.  Dec personal income rose +0.3% m/m, right on expectations.The US Dec core PCE price index (the Fed’s preferred inflation gauge) rose +0.4% m/m and +3.0% y/y, stronger than expectations of +0.3% m/m and +2.9% y/y.The US Feb S&P manufacturing PMI fell -1.2 to 51.2, weaker than expectations of no change at 52.4.US Dec new home sales fell by -1.7% to 645,000, better than expectations of 730,000.The University of Michigan US Feb consumer sentiment index was revised lower by -0.7 to 56.6, weaker than expectations of no change at 57.3.The University of Michigan US Feb 1-year inflation expectations were revised lower to a 13-month low of 3.4% from the previously reported 3.5%.  The Feb 5-10 year inflation expectations were revised lower to 3.3% from the previously reported 3.4%.Atlanta Fed President Raphael Bostic said it’s prudent to have interest rates mildly restrictive as he expects US growth in 2026 to put upward pressure on inflation.The US Supreme Court struck down President Trump’s sweeping global tariffs, saying he exceeded his authority by invoking a federal-emergency powers law to impose his “reciprocal” tariffs as well as targeted import taxes on countries to address fentanyl trafficking.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,909.51 +47.62 (+0.69%)Dow 3049,625.97 +230.81 (+0.47%)Nasdaq22,886.07 +203.34 (+0.90%)Russell 20002,663.78 -1.31 (-0.05%)VIX19.09 -1.14 (-5.64%)Gold5,080.90 +83.50 (+1.67%)Trending tickersBTC-USD Bitcoin USD 67,885.89 -119.43 (-0.18%)ETH-USD Ethereum USD 1,972.19 +5.91 (+0.30%)XRP-USD XRP USD 1.42 -0.01 (-0.45%)BTC-CAD Bitcoin CAD 92,918.81 -163.46 (-0.18%)SOL-USD Solana USD 84.99 +0.13 (+0.15%)PortfolioSign in to access your portfolioSign inTop gainersRNG RingCentral, Inc. 39.50 +10.11 (+34.40%)LGN Legence Corp. 55.24 +7.96 (+16.84%)TLX Telix Pharmaceuticals Limited 7.69 +0.98 (+14.61%)SYRE Spyre Therapeutics, Inc. 43.21 +5.40 (+14.28%)FSM Fortuna Mining Corp. 12.27 +1.37 (+12.57%)Top losersFROG JFrog Ltd. 37.75 -12.54 (-24.94%)DNOW DNOW Inc. 13.23 -3.13 (-19.13%)CC The Chemours Company 17.04 -3.37 (-16.51%)AKAM Akamai Technologies, Inc. 94.17 -15.42 (-14.07%)RGC Regencell Bioscience Holdings Limited 29.17 -4.29 (-12.82%)Most activeNVDA NVIDIA Corporation 189.82 +1.92 (+1.02%)OPEN Opendoor Technologies Inc. 5.0000 +0.3500 (+7.53%)ONDS Ondas Inc. 10.03 -1.36 (-11.94%)INTC Intel Corporation 44.11 -0.51 (-1.14%)PLUG Plug Power Inc. 1.8700 -0.0400 (-2.09%)Top economic eventsEarnings eventsMy earnings eventsEarnings events