The dollar extended its gains on Monday morning in Asia, as a holiday in Japan undermined liquidity, leaving China's somewhat disappointing stimulus announcements this weekend at the center of market attention. However, most of the other leading currencies are part of the decline.

The euro fell by 0.13% to $1.0922 and the British pound fell by almost 0.2% to $1.3043. The dollar was stable against the Japanese yen at 149.20

The dollar index was at 103.10, up slightly and nearing last week's peak, its highest level since mid-August, thanks to traders reducing their bets on further major rate cuts by the Federal Reserve at its remaining meetings this year.

Dollar bulls suffer a setback as traders increase their bets on a Fed cut

The yuan is down 0.9% against the dollar since September 24, when the People's Bank of China launched the country's most aggressive stimulus measures since the pandemic.

Australian dollars fell on Monday after the Beijing fiscal stimulus briefing lacked details and disappointed investors, although a lukewarm response from Chinese markets likely limited the decline.

The New Zealand dollar also slid 0.3% to $0.6091, after losing 0.8% last week to break the key 200-day moving average support of $0.6095.

Aussie fell 0.2% to $0.6736, after ending last week down 0.7% as changing expectations for American interest rates backfired.

The Chinese yuan fell by 0.1% to 7.0752 per dollar. Antipodean currencies are often traded as liquid substitutes for the Chinese yuan, with Beijing being Australia and New Zealand's main trading partner. At 03:23 GMT, the onshore yuan was down 0.13% to 7.0758 per dollar after trading in a range of 7.0722 to 7.0829, while its offshore counterpart weakened to 7.0837

The Indian rupee fell to an all-time low on Monday, weighed down by the persistent demand for dollars from foreign banks, probably for their custodian customers. The rupee hit an all-time low of 84.0725 per US dollar, surpassing the previous low of 84.07

The South African rand weakened in early trading on Monday, and with few important national data this week, the local currency will likely be influenced by global events, analysts say. At 0713 GMT, the rand traded at 17.4375 against the dollar, about 0.3% lower than

At 06:57 GMT, the shilling was trading at 128.50/129.50 against the dollar, the same closing rate as on Friday.

Despite rising reserves, the naira has suffered significant losses. According to data from the FMDQ Securities Exchange Limited, the dollar was quoted at 1,641.27 naira on Friday, a depreciation compared to 988.46 naira on January 3, 2024, on the Nigerian Autonomous Foreign Exchange Market (NAFEM). This represents a loss of 652.81 naira in the value of the naira