India, May 16 -- The Antipodean currencies such as the Australia and the New Zealand recovered from recent lows against their major currencies in the Asian session on Friday, amid improved global trade optimism.
A preliminary agreement between the United States and China aims to dramatically reduce tariffs-US charges on Chinese goods will be reduced from 145% to 30%, while China will lower tariffs on U.S. imports from 125% to 10%. Additionally, rising optimism about a possible US-Iran nuclear deal has boosted market mood.
The Australian Dollar (AUD) may gain traction following Thursday's stronger-than-expected labor market statistics, which helped dampen expectations for rapid rate reduction by the Reserve Bank of Australia (RBA).
Market...