India, May 12 -- The antipodean currencies such as the Australian and New Zealand dollars strengthened against their major currencies in the Asian session on Monday, amid optimism about a potential U.S.-China trade deal after U.S. Treasury Secretary Scott Bessent confirmed that a trade deal has been struck with China following the weekend talks in Switzerland, with no more details offered. Meanwhile, the safe-haven Japanese yen weakened against its major counterparts in the Asian trading on optimism over a US-China trade deal.
There are reports the U.S. is hoping to slash China tariffs to below 60 percent from the current level of at least 145 percent. However, U.S. President Donald Trump said in a post on Truth Social that a higher "80% T...