By Rae Wee and Johann M Cherian SINGAPORE (Reuters) -The U.S. dollar strengthened against major peers on Thursday after a court blocked President Donald Trump from imposing his import tariffs on other countries,

Gold rose as the dollar gave up short-lived gains on a court ruling against President Donald Trump’s global tariffs agenda. Bullion rose as much as 1.3% — erasing losses made during the US currency’s brief bounce — as a weaker greenback makes the precious metal more attractive for many buyers in other countries.

Financial markets welcomed a U.S. court ruling that blocks President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. U.S. futures jumped early Thursday and oil prices rose more than $1.