Venezuela-Trump latest: Maduro to appear in New York court as president threatens Colombia with military action

The dollar began the first full trading week of 2026 with a broad rally, rising to a three-and-a-half-week high against the euro and hitting two-week highs versus the yen, Swiss franc and Canadian dollar.

Currency markets largely looked past the United States’ weekend raid in Venezuela and the capture of president Nicolás Maduro, focusing instead on a heavy slate of U.S. economic data due this week that could shape the Federal Reserve’s policy outlook.

The dollar rose 0.3% to $1.1682 per euro, after earlier touching $1.1672, its strongest level since 10 December.

It climbed as high as 157.295 yen, 0.7951 Swiss franc and C$1.37771, all the highest levels since December 22.

“I dare say the FX complex is not much of a reflection of risks stemming from Venezuela, but more about what the US data is going to tell us about the Fed’s policy path,” said Kyle Rodda, senior financial markets analyst at Capital.com.

A recent run of resilient US economic data has led markets to consider a potentially slower pace of interest rate cuts this year, Rodda said.

Investors are also watching for president Donald Trump’s choice for the next Fed chair, with Jerome Powell’s term ending in May. Trump has said he will announce his pick this month and that the successor will be “someone who believes in much lower interest rates.”

Meanwhile, Bank of Japan governor Kazuo Ueda said on Monday the central bank would continue to raise rates if economic and price developments evolve in line with its forecasts.

Donald Trump insisted on Sunday night that the U.S. is “in charge” of Venezuela after American military forces toppled Nicolas Maduro over the weekend.

Trump told reporters onboard Air Force One that his administration was “dealing with the people that just got sworn in,” seemingly referring to acting president Delcy Rodriguez.

Venezuela’s interim leader expressed willingness to collaborate with Donald Trump following the capture of Nicolas Maduro by U.S. forces.

Maduro is expected to appear before a New York court on Monday.

U.S. secretary of state Marco Rubio said on Sunday that Washington would not take control of Venezuela but would enforce an “oil quarantine”, contrasting with Trump’s earlier pledge to “run” the country until new leadership was installed.

Trump later reiterated his statement that the US would take control, telling reporters on Air Force One “we’re going to run everything”.

Hours after Rubio’s comments, interim leader Delcy Rodriguez issued a public message to the U.S., asserting Venezuela’s “right to peace, development, sovereignty, and a future”.

“We prioritise moving towards balanced and respectful international relations between the United States and Venezuela, and between Venezuela and other countries in the region, premised on sovereign equality and non-interference,” she said in a post on Instagram.

“These principles guide our diplomacy with the rest of the world. We invite the US government to collaborate with us on an agenda of cooperation oriented towards shared development within the framework of international law to strengthen lasting community coexistence.”

Meanwhile, the UK, which has a historically deep intelligence-sharing relationship with the US, was not informed of the operation that saw Maduro and his wife captured and flown to New York before it was carried out.

Chief secretary to the prime minister Darren Jones declined to say whether he thought American airstrikes on Caracas early on Saturday were legal, insisting it was for “international courts” to judge.

“The United Kingdom was not involved in any way,” Jones told Sky News’s Sunday Morning With Trevor Phillips programme.

“We were not informed of it beforehand. So it’s not for us to judge whether it’s been a success or not. That’s for the Americans to speak to.”

Demonstrators took to the streets in cities across Asia on Monday to protest against the United States following the capture of Venezuelan president Nicolás Maduro.

In Manila, protesters rallied near the US embassy, chanting slogans against Washington and Trump, as they condemned what they described as an attack on Venezuela’s sovereignty.

Marchers waved flags and carried banners denouncing the seizure of Maduro and US military action.

The banners read “hands off Venezuela” and “condemn Trump’s kidnapping of Maduro”.

In Seoul, demonstrators gathered outside the US embassy holding placards criticising the Trump administration and calling for an end to what they said was US interference in Venezuela.

Some protesters donned masks depicting President Trump, staging street performances to dramatise their opposition to US foreign policy and the detention of the Venezuelan leader.

The protests highlight growing anger among activist groups in parts of Asia over Washington’s actions in Latin America, with demonstrators warning that the operation sets a dangerous precedent for international law and state sovereignty.

Chinese foreign minister Wang Yi said Beijing could not accept any country acting as the “world’s judge” after U.S. forces captured Venezuelan president Nicolás Maduro.

“We have never believed that any country can act as the world’s police, nor do we accept that any nation can claim to be the world’s judge,” Wang told Pakistani foreign minister Ishaq Dar during a meeting in Beijing on Sunday.

He referred to “sudden developments in Venezuela” without directly naming the US.

“The sovereignty and security of all countries should be fully protected under international law,” Wang added, in his first public remarks since images of Maduro blindfolded and handcuffed stunned Venezuelans on Saturday.

Maduro is being held at a detention facility in New York and is expected to appear in court on Monday.

China has sought to position itself as a diplomatic heavyweight, a goal it articulated most clearly after brokering a surprise rapprochement between Saudi Arabia and Iran in 2023, pledging to “play a constructive role in global hotspot issues”.

Analysts say Beijing’s ability to hold its own against Washington in trade negotiations has bolstered its confidence on the global stage.

President Donald Trump’s assertion that the US will temporarily oversee Venezuela’s government now poses a major test for the “all-weather comprehensive strategic partnership” China and Venezuela signed in 2023, marking nearly 50 years of diplomatic ties.

“It was a big blow to China – we wanted to appear as a dependable friend to Venezuela,” a Chinese government official briefed on a recent meeting between Maduro and China’s special envoy for Latin America, Qiu Xiaoqi, said.

China has provided Venezuela with an economic lifeline since US-led sanctions intensified in 2017, purchasing about $1.6bn in goods in 2024, nearly half of it crude oil, according to customs data.

The Department of Justice has unsealed a sweeping grand jury indictment accusing Venezuelan President Nicolas Maduro of leading a massive cocaine trafficking operation.

He is due to appear in federal court Monday at noon ET/ 5 p.m. GMT.

A 25-page document from federal prosecutors in New York City claims Maduro, his wife and Venezuelan officials have “abused their positions of public trust and corrupted once-legitimate institutions to import tons of cocaine into the United States.”

The four-count indictment, unsealed hours after Donald Trump announced the capture of Maduro and his wife Cilia Flores, claims the Venezuelan president and his family enriched themselves with a “cycle of narcotics-based corruption.”

Alex Woodward breaks down the charges:

Oil prices fell by just less than one percent after trading opened Sunday evening, after the capture of ousted Venezuelan president Nicolas Maduro.

Analysis from The New York Times suggested that the drop to around $57 per barrel highlights how the South American nation is a relatively small player is in global oil markets.

Rep. Marjorie Taylor Greene, on her final day as congresswoman, was the president’s strongest Republican critic on the Sunday show circuit this week in the wake of a stunning U.S. operation in Venezuela that led to the capture of Nicolas Maduro.

The Republican firebrand was on NBC’s Meet the Press for the last time as a member of the House as she argued that President Donald Trump was once again turning away from the domestic agenda she has argued for months is a reason for the his decreasing popularity among his base.

“I am not defending Maduro and of course I am happy for the people of Venezuela to be liberated,” Greene said. “[But] this is the same Washington playbook that we are so sick and tired of, that doesn’t serve the American people, but actually serves the big corporations, the banks, and the oil executives.”

John Bowden has the details.

U.S. president Donald Trump has threatened military action against Colombia’s government, saying the option “sounds good to me”.

“Colombia is very sick, too, run by a sick man, who likes making cocaine and selling to the United States, and he’s not going to be doing it very long,” Trump told reporters aboard Air Force One, in an apparent reference to Colombia’s president Gustavo Petro.

Asked directly whether the U.S. would pursue a military operation against the country, Trump answered, “It sounds good to me.”

The comments came after the United States captured Venezuelan president Nicolas Maduro in an audacious raid and whisked him to New York to face drug-trafficking charges.

The US sanctioned Petro in the autumn after Trump blamed the leader for failing to curb drug trafficking in the country allowing cartels to “flourish”.

The country had become a refuge to hundreds of Venezuelans who fled Maduro’s rule in recent years.