India, Feb. 4 -- The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as traders reacted positively to U.S. President Donald Trump's latest decision to delay imposing the planned tariffs on Mexico and Canada after successful negotiations with the respective leaders. The tariffs could have renewed inflation fears, leading the U.S. Fed to keep interest rates on hold for longer.
U.S. President Donald Trump struck deals to delay 25 percent import taxes on Canada and Mexico for 30 days, helping avert a trade war for now.
It remains to be seen how China would respond to the new across-the-board 10 percent tariffs that are set to take eff...