The dollar held onto its gains and even extended some in Asian trading on Monday as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention.

Asian stocks swung between gain and loss on Monday as investors struggled to reach a consensus view on China's broad economic stimulus promises made over the weekend which were light on specifics.

Most Asian stocks drifted lower on Friday, with Chinese markets sinking in anticipation of more cues on fiscal stimulus, while South Korean shares rose after the Bank of Korea cut interest rates. 

Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites.

The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labour market boosted the case for quicker Federal Reserve rate cuts.

Oil prices rose on Thursday underpinned by a spike in fuel demand as a major storm barrelled into Florida and concerns about potential supply disruptions in the Middle East amid heightened tensions between Israel and major oil producer Iran.