Dollar Holds Steady as Markets Weigh China's Stimulus Plans

The dollar maintained its gains on Monday, with limited trading due to Japan's holiday. Investors focused on China's stimulus plans, which were seen as underwhelming.

The euro and pound slipped slightly, while the dollar strengthened against the yen. China announced plans to increase government debt issuance to support low-income households, the property market, and state banks, but specifics were lacking.

As a result, market reactions were muted, and concerns about China's economic recovery lingered. U.S. inflation and jobless claims data also supported expectations of modest rate cuts by the Federal Reserve.