US Supreme Court throws out rulings allowing congressional committees to obtain Trump's financial records
The US Supreme Court threw out rulings allowing the Democratic-led congressional committees to obtain US President Donald Trump's financial records, as reported by Reuters. Nevertheless, the Supreme Court's ruling still lets a New York prosecutor obtain those records.
"One ruling means that the subpoena issued to Trump's long-term accounting firm, Mazars LLP, for various financial records to be turned over to a grand jury as part of a criminal investigation can be enforced," Reuters explained
With this decision, the Supreme Court has effectively sent the dispute back to lower courts.
Market reaction
With the initial reaction to this development, the US Dollar Index (DXY) advanced to a session high of 96.60 but lost its traction. As of writing, the DXY was virtually unchanged on a daily basis at 96.47. Meanwhile, the S&P 500 Index edged lower and was last seen losing 0.3% on the day at 3,160.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
