India, Feb. 23 -- The U.S. dollar weakened against other major currencies in the Asian session on Monday, after the U.S. Supreme Court striking down most of U.S. President Donald Trump's global tariffs saying the International Emergency Economic Powers Act, or IEEPA, does not authorize the president to impose tariffs.
Traders also kept a close eye on the evolving geopolitical situation involving the U.S. and Iran.
The US Supreme Court ruled on Friday that President Trump had overreached himself by using his authorities under the IEEPA to impose broad tariffs on trading partners.
To maintain trade tensions, US President Trump responded by declaring that he was "ashamed of certain members of the court" and imposing 15% global tariffs.
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