Week Ahead: Does The Dollar Still Have Legs After The Tariff Ruling?

2026-02-22 01:47:00 ET

The Supreme Court struck down President Trump's use of emergency powers to impose widespread tariffs. The court did not rule on refunds. Trump quickly announced a 10% across-the-board tariff under Section 122 of the 1974 Trade Act, which allows the president to impose up to a 15% tariff for 150 days. The dollar remained firm after the softer-than-expected Q4 GDP, which, at 1.4%, was half the pace of the median forecast in Bloomberg's survey. However, it was sold after the court's decision was announced. Yet, key technical levels were not violated, and the momentum indicators suggest the dollar's upside correction may not be over....

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