Dollar Rises as Traders Weigh Supreme Court Ruling on Fed's Cook

Dow Jones14:43

0643 GMT - The dollar rises slightly as the Supreme Court's decision Monday to block President Trump's bid to fire Federal Reserve governor Lisa Cook reduce risks to the central bank's independence. Justices said the Trump administration hadn't provided Cook sufficient due process for her to contest her removal on allegations of mortgage fraud. However, the court also gave Trump free rein to fire officials at other independent agencies for any reason. "It points to a more uncertain institutional backdrop, where independence can no longer be taken as a given across the wider policy framework, even if the Fed remains insulated for now," Deutsche Bank analysts say in a note.The DXY dollar index rises 0.2% to 101.318. (renae.dyer@wsj.com)

 

(END) Dow Jones Newswires

June 30, 2026 02:43 ET (06:43 GMT)

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