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

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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.

usdyen usdchf trump court tariff 29 May 2025 2
Source: Forex Live