India, March 5 -- The U.S. dollar weakened against other major currencies in the European session on Wednesday, amid growing worries about slowing U.S. economic growth and the effects of recently imposed tariffs. Instead of being pro-growth and inflationary for the economy, as investors had previously predicted, they are expecting Trump's tariffs to slow down U.S. economic growth.
Markets are also cautious following the imposition of tariffs by U.S. in Canada, Mexico and China, and the retaliatory measures by China and Canada.
Investors were also reacting to comments from U.S. Commerce Secretary Howard Lutnick that President Donald Trump will "probably" announce a deal to reduce tariffs on Canada and Mexico.
In the European trading today...