The dollar fell on Monday as traders took the US Supreme Court’s decision to strike down a slew of President Donald Trump’s tariffs as supportive for global growth, though confusion and risk of conflict with Iran kept moves cautious.

The euro was up 0.4 per cent to $1.1820 and sterling rose by 0.3 per cent to $1.3516through the Asia session, which was lightened a little by a holiday in Japan and China’s Lunar New Year break. The dollar fell 0.4 per cent to 154.40 yen.

The Supreme Court found on Friday Trump’s sweeping tariffs exceeded his authority. Trump has responded by lashing out at the court and imposing a blanket 15 per cent levy on imports, as well as insisting higher-tariff deals with trade partners should stay.

“It weakens the dollar in the sense that it potentially benefits non-US growth,” said Sim Moh Siong, currency strategist at OCBC Bank in Singapore.

He said longer-run foreign exchange implications were less clear, with a hit to U.S. revenues potentially negative for the fiscal position and the dollar, while a check on Trump’s power may be a positive, by limiting a source of policy volatility.

The New Zealand dollar was a little higher at just shy of 60 cents, while the Aussie dipped a little as the US had previously imposed only a 10 per cent tariff on Australian goods, leaving it at $0.7070.

The safe-haven Swiss franc jumped 0.5 per cent to 0.7727 francs per dollar.

“This decision is another chip away at Trump’s power … so that’s a positive for markets,” said Jason Wong, strategist at BNZ in Wellington.

“But there’s so many factors, there’s all these moving parts, it’s not tradable.”

Besides tariffs, markets have an eye on a US military buildup in the Middle East as it pressures Iran to drop pursuit of nuclear weapons, and are looking ahead to Trump’s State of the Union address Tuesday.

Trump’s replacement levies run for 150 days and it is not clear if the US owes importers refunds on duties already paid, with the Supreme Court making no ruling on that issue.

Analysts expect years of litigation and another bout of activity-crimping confusion while Trump seeks other means to replace the raft of global tariffs more permanently.

“It does reflect on the fact that the administration’s strategy to raise revenue is built on sources that could face significant uncertainty, while the propensity to spend continues to be high,” said Tai Hui, Asia-Pacific chief strategist at J.P. Morgan Asset Management.

“So this could keep bond investors on the look out regarding fiscal discipline.”

The European Commission demanded on Sunday the US stick to a deal reached last year with the EU, which includes zero tariffs on some products such as aircraft and spare parts.

US trading partners in Asia were cautiously weighing fresh uncertainties, as were investors who have already been wrong-footed by markets’ responses to Trump’s trade levies – which have incidentally failed to close the US trade deficit.

In the lead-up to Trump’s election, investors had bet on tariffs lifting the dollar, assuming the rest of the world would try to weaken their currencies to offset a hit to exports.

But through 2025 the dollar fell – the dollar index dropped more than 9 per cent – as markets ended up focusing instead on anticipating interest rate cuts, worrying about the US fiscal deficit and Trump’s unnerving policy swerves.

“The key issue … is that the Trump administration will be much more constrained in their ability to use tariffs in general,” ANZ’s group chief economist Richard Yetsenga said on the bank’s podcast.

“I don’t think this will change too much about the global economy.”

State energy major Saudi Aramco has sold several cargoes of ultra light crude oil from its $100bn Jafurah gas plant to US majors and an Indian refiner as it prepares to export its first cargo later this month, four trade sources said.

The Jafurah project, estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, is central to Aramco’s ambitions to boost its gas output to become a major global natural gas player and to expand its offerings of light crude grades.

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US major Chevron has bought two Jafurah condensate cargoes for loading later this month and in March while Exxon Mobil Corp and Indian Oil Corp purchased cargoes to be lifted next month, the sources said.

The cargoes were sold at premiums of $2 to $3 a barrel to Dubai quotes on free-on-board basis, they added.

First cargo likely for South Korea

Chevron’s first cargo is likely to go to its South Korean joint-venture refiner GS Caltex while the second could head to Thailand for Star Petroleum Refining, two of the sources said.

Aramco, Exxon, IOC and SPRC did not immediately respond to requests for comments. GS Caltex did not have an immediate comment. Chevron declined to comment.

Jafurah is potentially the biggest shale gas project outside the US and is expected to reach sustainable production of 2 billion cubic feet per day by 2030.

Aramco could export four to six 500,000-barrel cargoes of Jafurah condensate per month from the country’s eastern port of Yanbu, a source told Reuters earlier.

Condensate is a non-gas liquid that can be processed at splitters to produce petrochemical feedstock naphtha and other refined products, or can be blended with crude to be distilled at refineries.

The Jafurah condensate has an API gravity of 49.7 degrees and contains about 0.17 per cent sulphur, according to a preliminary crude assay reviewed by Reuters.

About 40 per cent of its yield is petrochemical feedstock naphtha, mainly the heavier grade, while most of the rest of the output is gasoil and kerosene, the assay showed.

The Cybersecurity Council (CSC) in UAE has issued a fresh warning against publishing or sharing sensitive personal information on social media platforms, cautioning that oversharing could expose individuals to fraud, identity theft and serious privacy violations.

According to a report by Emirates News Agency (WAM), the council stressed that posting important personal data online may allow cybercriminals to design targeted scams and exploit unsuspecting users.

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The CSC revealed that nearly 40 per cent of social media users have experienced privacy violations as a result of sharing personal details about their lives and families online. “Irresponsible sharing significantly increases the risk of theft, cyber fraud and identity theft,” the council warned.

Small details, big risks

Officials emphasised that even seemingly harmless details shared publicly can be manipulated in fraudulent schemes. Information such as home or workplace addresses, personal phone numbers, travel plans and private family photos can all be used by cybercriminals.

The council underlined that exercising caution when posting online plays a critical role in reducing cyberattacks and fraudulent activities targeting individuals, companies and institutions.

It also highlighted the responsibility of individuals in safeguarding their own data, noting that preventive behaviour is one of the strongest defenses against identity theft.

Strengthening digital defenses

Beyond limiting what is shared publicly, the CSC urged users to secure their digital accounts and devices. Recommended measures include keeping software updated, limiting access to cameras, microphones and location services, and using strong, unique passwords.

The council further encouraged the adoption of multi-factor authentication and other safe online practices to help maintain a secure digital environment.

Users were advised to avoid unsecured platforms, regularly monitor their accounts, and carefully verify incoming messages. The warning comes as fraudsters increasingly deploy advanced technologies to extract financial and personal information from victims.

“Cybersecurity remains a major challenge in the digital sphere,” the council said, stressing that preventive measures and responsible conduct, alongside government initiatives, are essential to addressing digital risks linked to rapid technological advancement.

Cyber pulse campaign expands awareness

In response to growing threats, the CSC continues to expand public awareness efforts. The Cyber Pulse campaign, launched for the second consecutive year across social media platforms, aims to promote cybersecurity culture and digital responsibility throughout the UAE.

The initiative supports the country’s broader vision of building a secure cyberspace that protects citizens and residents from escalating digital risks. It also seeks to enhance awareness among families and individuals while reinforcing best practices that safeguard privacy and personal safety amid accelerating digital transformation.

The council reiterated that verifying secure methods of sharing information and avoiding content that may lead to privacy breaches are essential steps in today’s interconnected world.

Gold prices climbed to a more than three-week high on Monday as uncertainty stoked by the US Supreme Court’s decision to strike down a vast swathe of President Donald Trump’s tariffs pressured the dollar and pushed investors to the safety of bullion.

Spot gold climbed 1.1 per cent to $5,161.64 per ounce by 0419 GMT, earlier hitting its highest since January 30. US gold futures for April delivery were up 2 per cent at $5,183

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“The court’s tariff ruling has, aside from earning the ire of the US president, added another layer of uncertainty to global markets with traders again turning to gold as a defensive play,” said Tim Waterer, KCM chief analyst.

The US Supreme Court struck down Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies, handing the Republican president a stinging defeat in a landmark ruling on Friday with major implications for the global economy.

After the court ruling, Trump said he would raise a temporary tariff from 10 per cent to 15 per cent on US imports from all countries.

Wall Street futures and the dollar slid in Asia on Monday as murkiness around US tariffs revived the “sell America” trade.

Meanwhile, data on Friday showed underlying US inflation increased more than expected in December, and signs are pointing to a further acceleration in January, which would strengthen expectations that the Federal Reserve won’t cut interest rates before June.

Dubai-based aircraft lessor DAE Capital is closing in on a deal to buy control of leasing platform Macquarie AirFinance, two industry sources said.

The two firms did not immediately respond to a request for comment. In January, Reuters reported that DAE was among the final contenders for the Macquarie aircraft leasing assets, alongside Saudi Arabia’s AviLease and Qatar’s Lesha Bank.

A sale follows a competitive round of bidding as demand for aircraft soars with commercial planesmakers Boeing and Airbus unable to produce enough jets to keep up with demand from airlines. That has created an opportunity for owners of lessors to sell at premium multiples.

In 2017, Dubai Aerospace Enterprise (DAE) acquired Dublin-based AWAS, the world’s tenth biggest aircraft lessor.