India, April 9 -- The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday, as Asian stock markets traded lower with steep losses in Japan, Singapore and Taiwan as traders remain concerned about rising tensions between the U.S. and China amid the new reciprocal tariffs on imports into the U.S. The steeper-than-expected tariffs ignited fears over an economic recession globally.
Meanwhile, U.S. Treasury Secretary Scott Bessent said approximately 70 countries have approached the White House about trade talks, with Japan purportedly getting priority status.
China has vowed to "fight to the end" after Trump threatened to impose an additional 5...