India, March 3 -- The U.S. dollar weakened against other major currencies in the Asian session on Monday, amid prospects of the U.S. Fed cutting interest rates earlier as it is feared that the U.S. trade war may hurt global growth, worsen inflation and possibly spark recessions in some countries. Traders also picked up stocks at a bargain after the recent slump in the markets.
U.S. President Donald Trump said last week that his proposed 25% tariffs on Mexican and Canadian goods will take effect on March 4 along with an extra 10% duty on Chinese imports over the fentanyl opioid crisis.
The dollar also advanced following a European summit on defense and Ukraine.
After the collapse of a hoped-for deal between Trump and Volodymyr Zelenskyy, ...