Asian stocks showed hesitancy on Monday as the dollar firmed following the release of US payrolls data that dampened expectations of a Federal Reserve interest rate cut. The cautious sentiment in Asian markets was reflected in the lackluster performance of major indices.
The US dollar gained ground against a basket of currencies, with investors adjusting their rate cut expectations after the latest employment figures showed stronger-than-expected job growth. This development reduced the likelihood of the Fed implementing aggressive monetary policy easing measures.
