Currency Buzz: Dollar index back above 100 mark after US trade court blocks bulk of Trump tariffs

The US dollar index edged up today, breaking above 100 mark on rising global trade uncertainty. Media reports noted that bulk of US President Donald Trump?s global tariffs were declared illegal and blocked by the US trade court. The ruling was issued by a panel of three judges at the US Court of International Trade in Manhattan on Wednesday. This is likely to lead to a wave of volatility in financial markets and the US dollar could be finding it beneficial as its safe-haven status supports the greenback following recent decline. The US dollar index moved up above 100 mark and currently trades at 100.04, up marginally on the day and hovering one and half week highs. Meanwhile, the latest FOMC meeting minutes highlighted Fed officials? willingness to keep interest rates on hold for some time, as policy shifts in Washington cloud the economic outlook. This also broadly kept the US currency supported.

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