
The U.S. Supreme Court invalidated President Trump's emergency authority to impose broad tariffs, prompting a modest sell‑off in the dollar despite its recent resilience. Dollar Index fell to just above 97.5, yet key technical levels held, while the euro recovered near $1.1740 and the yen slipped toward ¥154.75. Meanwhile, Asian currencies showed divergent moves: the yuan stayed in a narrow CNH6.88‑6.91 band ahead of the PBOC’s fix, and the Australian dollar hovered near A$0.71 amid expectations of another rate hike. Upcoming data releases—including U.S. Q4 GDP revisions, Eurozone CPI, and Chinese loan prime rates—will shape the next week’s FX landscape.

The U.S. dollar is in a consolidating phase, hovering around JPY158.6 after a brief push toward JPY159.5, as Japanese authorities intensify verbal warnings of possible market intervention. In North America, traders await U.S. PPI, retail sales data and comments from...