The yen hit its highest levels in more than a year on Monday in trading thinned by a holiday in Japan, as market participants increasingly expected an oversized rate cut by the Federal Reserve later this week.

Gold prices hit a record high in Asian trade on Monday amid growing bets that the Federal Reserve will cut interest rates by a bigger margin later this week.

Bitcoin’s price fell on Monday, reversing course after a short-lived weekend rebound, with focus squarely on a Federal Reserve meeting this week where the central bank is expected to cut interest rates. 

Asian stocks moved little in holiday-thinned trade on Monday, with focus turning squarely to a Federal Reserve meeting this week where the central bank is widely expected to cut interest rates. 

Oil prices rose slightly in Asian trade on Monday, benefiting from a softer dollar as traders positioned for an interest rate cut by the Federal Reserve later this week.

Asian stocks made a cautious start on Monday in a week that is almost certain to see the start of an easing cycle in the United States with the only question mark being the size of the cut, with markets split on the chance of an outsized move.