India, March 26 -- The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Wednesday, as investors risk-on mood increased amid optimism about earlier interest rate cuts by the U.S. Fed after U.S. consumer confidence deteriorated by more than expected in the month of March. Traders are also optimistic about some tariff exemptions by the U.S. administration as they seek greater clarity on the next round of tariffs.
Trump said at an event on Monday that he "may give a lot of countries breaks" on reciprocal tariffs that are set to take effect April 2. Gains across most sectors led by mining and financial stocks, also led to the upturn of AUD, NZD a...