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>>GBP/USD jumps amid legal chaos as the Supreme Court inflicts a major setback on Trump tariffs

GBP/USD jumps amid legal chaos as the Supreme Court inflicts a major setback on Trump tariffs

crypthub

about 3 hours ago

Market Reaction

The U.S. Supreme Court’s 6‑3 decision on March 15 2025 blocked key Trump‑era tariffs, prompting the GBP/USD pair to rise about 0.8%. The currency jumped from near 1.2850 to breach the 1.2950 level within hours. Traders reassessed transatlantic trade flows and the dollar’s safe‑haven appeal.

Analyst Insights

Analysts say the ruling removes a protectionist barrier that had constrained UK exporters, boosting export forecasts and weakening the dollar. Trading volume surged to roughly 150 % of the 30‑day average as institutions repositioned. Technical support and fresh fundamental optimism amplified the move.

Legal and Economic Implications

The opinion, authored by Chief Justice Roberts, held that the tariffs exceeded presidential authority under Section 232, establishing a stricter evidentiary standard. The decision may shift trade‑policy power toward Congress and creates uncertainty for existing tariffs. Early estimates suggest a possible 0.2 % uplift in UK GDP and lower consumer prices, though broader policy ambiguity persists.