USD/JPY has steadied after its earlier leap above 146.20

The USD gained across the board on the news that a US Federal court has blocked most of Trump tariffs.

ICYMI:

• A US federal court blocked Trump’s “Liberation Day” tariffs from going into effect
• USD higher after US court says Trump doesn’t have ‘Liberation Day’ tariff authority
• Trump’s tariffs blocked – what we know

• The US dollar is continuing to rocket higher on the tariff-block news

More:

• Trump has a number of avenues of appeal open – here’s one
• Trump has appealed against the court ruling blocking tariffs

The USD surged on the news, most notably against ‘safe haven’ FX such as yen and CHF. Highs were around

• 146.28 for USD/JPY
• and 0.8348 for USD/CHF

Both have retraced a little, as have other FX. EUR/USD hit lows around 1.1212 and is around 1.1245 or so as I post.

This article was written by Eamonn Sheridan at www.forexlive.com.