The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major counterparts in the Asian session on Monday, as Asian stock markets traded lower as the failure of peace negotiations between the warring factions in the Middle East over the weekend raised concerns about whether the fragile ceasefire will hold.
Talks failed over Iran's refusal to halt efforts to develop nuclear weapons, while Tehran reportedly demanded control of the Strait of Hormuz, war reparations, and the release of frozen assets.
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