The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Tuesday, as Asian shares traded lower dragged by the tumbling Hong Kong market. Traders also reassessed their expectations for the outlook on interest rates after upbeat U.S. jobs data. Escalating tensions in the Middle East is also weighing on market sentiment.
The Australian dollar fell after the remarks made by Zheng Shanjie, the chairman of China National Development and Reform Commission at the press conference. The investors were disappointed over the lack of concrete information regarding the extent of Beijing's newly announced stimulus program.
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