Don't quote me... quote CropHouse Ltd (found it online)
What does humidity have to do with water and transpiration? There are many linkages. Air humidity affects the plant process like transpiration, water uptake, nutrient transport, cell turgor and growth. Also plant transpiration increases the humidity of the greenhouse air. The linkages may be complex but they are very logical.
High humidity restricts the transpiration, because very humid air is almost saturated with water vapor and cannot absorb much more. If very humid condition and much sun shine were to occur at the same time, the plant would get very hot due to low transpiration and lack of leaf cooling
Also, at time of reduced transpiration, the water uptake is low, and therefore transport of nutrients from roots to shoots is restricted. If the high humidity condition last for a longer period of time (e.g. a week) then the plants may suffer deficiencies. Especially shortage of calcium is very common is those conditions.
It is obvious that low humidity stimulates the transpiration, which is good. But at very low humidity the leaves loose so much water that the xylem flow cannot completely replace the water losses, and thus plants can not maintain turgor in the plant cell. Then the cell walls are not pressed outwards, and the plant cell not stimulated to grow. Therefore a low humidity for a long period of time generally results in shorter plans and smaller leaf area.
http://www.crophouse.co.nz/files/CG_H06_-_Humidity_and_plants_-_view.pdf