India, July 22 -- The antipodean currencies such as the Australia and New Zealand dollars weakened against their major currencies in the European session on Tuesday, as European shares traded lower, with disappointing earnings and trade anxiety keeping investors on edge.
Media reports suggest that the European Union is preparing to respond with a suite of retaliatory measures under its Anti-Coercion Instrument (ACI) following U.S. President Donald Trump's threat to impose a 30 percent tariff on EU goods from 1 August.
Elsewhere, the prospect of an interim trade deal between the U.S. and India before the August 1 deadline have dimmed due to persistent disagreements over key agricultural and dairy products.
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