India, Feb. 11 -- The New Zealand weakened against other major currencies in the Asian session on Tuesday, as traders remain cautious amid raising fears of a brewing global trade war and its potential impact on the global economy. China's retaliatory tariffs on U.S. goods are also set to take effect later in the day.
The latest tariff threat comes after U.S. President Donald Trump said last Friday he plans to announce reciprocal tariffs on many countries this week, with the U.S. imposing tariffs on imports equal to the rates imposed on American exports.
The NZD's decline is partly attributed to growing expectations that the Reserve Bank of New Zealand (RBNZ) will announce a third consecutive supersized rate drop later this month. The odds...