The antipodean currencies such as the Australia and New Zealand dollars weakened against other major currencies in the Asian session on Monday, as Asian stock markets traded lower hurt by tumbling technology stocks which mirrored their peers on tech-heavy Nasdaq amid concerns about valuations. Additional weakness came from escalating Middle East conflict after reports that Iran launched missiles at Israel, raising doubts over the durability of the already fragile US-Iran ceasefire.
The Iranian attack followed Israeli strikes in Beirut, with Iran warning of further attacks if Israel expands its military operations in Lebanon or retaliates against Iran’s actions.
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