The US dollar initially rose after a court blocked President Trump from imposing broad import tariffs, but the rally quickly lost steam.
The dollar ended Thursday with only minor gains against major currencies like the yen and Swiss franc.
Market concerns shifted back to ongoing trade uncertainty and worries about America’s fiscal outlook, especially if tariff revenues are limited.
While the court ruling temporarily halted Trump’s universal tariff plans, investors remain cautious as the administration may pursue alternative methods to implement its trade agenda.