A potential third courtroom battle looms between Trump and the Fed. The administration has so far not succeeded on its subpoenas or firing of Lisa Cook, via WSJ's Timiraos

The looming courtroom battle between Trump and the Fed introduces uncertainty in U.S. governance that could impact market sentiment. If this escalates, it could lead to volatility in equities and forex, particularly affecting the USD, as investors reassess risks associated with political stability and monetary policy independence. Stay alert for potential spillover into energy and commodities depending on the resolution of these conflicts.