India, March 11 -- The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Tuesday, amid increasing worries the U.S. is headed for a recession and concerns over the health of the world economy following the likely impact of President Donald Trump's tariffs and trade policies.
Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China. He warned of imposing sweeping banking sanctions and tariffs in Russia until there is a ceasefire and peace agreement.
Additionally, the United States raised its tariffs on Chinese imports from 10% to 20% last week, prompting China to impose retaliation tariffs ...