{"id":64010,"date":"2026-06-30T13:38:18","date_gmt":"2026-06-30T17:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/supreme-court-expands-presidential-power-as-yen-hits-40-year-low\/64010\/"},"modified":"2026-06-30T13:38:18","modified_gmt":"2026-06-30T17:38:18","slug":"supreme-court-expands-presidential-power-as-yen-hits-40-year-low","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/supreme-court-expands-presidential-power-as-yen-hits-40-year-low\/64010\/","title":{"rendered":"Supreme Court Expands Presidential Power as Yen Hits 40-Year Low"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The U.S. Supreme Court overturned the 90-year-old &quot;Humphrey\u2019s Executor&quot; rule<\/strong>, significantly expanding the President&#39;s authority to fire heads of independent regulatory agencies.<\/li>\n<li><strong>The Japanese Yen plummeted to a 40-year low of 162.41 per dollar<\/strong>, prompting Finance Minister Satsuki Katayama to renew pledges of &quot;appropriate action&quot; to curb volatility.<\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) won a Supreme Court review<\/strong> of a contempt order in its ongoing battle with Epic Games over App Store steering rules and its <strong>27% commission fee<\/strong>.<\/li>\n<li><strong>Google (<a href=\"\/stock\/GOOG\">GOOG<\/a>) launched Gemini Omni Flash and Nano Banana 2 Lite<\/strong>, new AI models designed for high-speed video generation and cost-efficient image processing.<\/li>\n<li><strong>The UK Government unveiled a \u00a315 billion Defence Investment Plan<\/strong>, aiming to raise spending to <strong>2.7% of GDP<\/strong> by 2028, though the Institute for Fiscal Studies (IFS) warned of funding gaps.<\/li>\n<\/ul>\n<h2>Supreme Court Reshapes Executive Power and Corporate Litigation<\/h2>\n<p>In a landmark ruling, the <strong>U.S. Supreme Court<\/strong> decided the case of <em>Trump v. Slaughter<\/em>, effectively overturning the <strong>Humphrey\u2019s Executor<\/strong> precedent that had protected leaders of independent agencies from at-will removal. The decision allowed President Trump to fire <strong>Federal Trade Commission (FTC)<\/strong> member Rebecca Kelly Slaughter, signaling a massive shift in the balance of power between the White House and independent regulators.<\/p>\n<p>Simultaneously, the Court dealt a blow to the administration by <strong>upholding birthright citizenship<\/strong> in <em>Trump v. Barbara<\/em>. The 6-3 ruling struck down an executive order that sought to deny citizenship to children born in the U.S. to undocumented parents, reaffirming the <strong>14th Amendment&#39;s<\/strong> Citizenship Clause.<\/p>\n<p>In corporate legal news, the Supreme Court agreed to hear an appeal by <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> regarding a contempt ruling in its dispute with <strong>Epic Games<\/strong>. The case centers on whether Apple&#39;s <strong>27% commission<\/strong> on external payment links willfully defied a 2021 court order; the justices will review the matter in the term beginning October 2026.<\/p>\n<h2>Currency Markets and Central Bank Shifts<\/h2>\n<p>The <strong>Japanese Yen<\/strong> fell to <strong>162.41 per dollar<\/strong>, its weakest level since 1986, as the interest rate gap between the U.S. and Japan continues to widen. Despite the slide, Japanese authorities have kept their intervention rhetoric unchanged, though analysts at <strong>Nomura<\/strong> suggest a &quot;line in the sand&quot; may now be drawn at the <strong>163 level<\/strong>.<\/p>\n<p>Central banks globally are increasingly viewing the U.S. dollar as a riskier asset, according to a <strong>World <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Council<\/strong> survey. Approximately <strong>89% of reserve managers<\/strong> expect gold holdings to increase over the next year, with many planning to sell dollars in favor of bullion as a geopolitical risk hedge.<\/p>\n<h2>Monetary Policy and Economic Indicators<\/h2>\n<p><strong>European Central Bank (ECB)<\/strong> policymaker Primoz Dolenc suggested that a recent retreat in <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> could allow the bank to <strong>delay its next policy decision until September<\/strong>. Dolenc noted that there is currently no &quot;clear evidence&quot; of second-round inflation effects, providing the ECB with breathing room to assess fresh economic projections before further rate hikes.<\/p>\n<p>In the U.S., the Trump administration announced a financial aid plan for <strong>smaller meatpackers<\/strong> to maintain cattle slaughtering operations. The move, aimed at curbing record-high beef prices, caused shares of industry giants <strong>Tyson Foods (<a href=\"\/stock\/TSN\">TSN<\/a>)<\/strong> and <strong>JBS (<a href=\"\/stock\/JBS\">JBS<\/a>)<\/strong> to trade lower as the government seeks to foster competition against the &quot;Big 4&quot; processors.<\/p>\n<h2>Technology and Defense Innovation<\/h2>\n<p><strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> expanded its AI portfolio with the release of <strong>Gemini Omni Flash<\/strong> and <strong>Nano Banana 2 Lite<\/strong>. The latter, technically designated as <strong>Gemini 3.1 Flash-Lite<\/strong>, is marketed as the industry&#39;s most cost-efficient image model, capable of generating assets in just <strong>4 seconds<\/strong> for enterprise developers.<\/p>\n<p>The UK government\u2019s new <strong>Defence Investment Plan<\/strong> commits an additional <strong>\u00a33.8 billion annually<\/strong> over the next four years. While the plan targets a rise to <strong>2.7% of GDP<\/strong>, the <strong>Institute for Fiscal Studies (IFS)<\/strong> noted that roughly one-third of the increase remains unfunded, potentially requiring future tax hikes or borrowing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The U.S. Supreme Court overturned the 90-year-old &quot;Humphrey\u2019s Executor&quot; rule, significantly expanding the President&#39;s authority to fire heads 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