The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Monday. At 10am, the local currency was hovering at 280.15, a gain of Re0.17 against the greenback. During the previous week, the rupee gained further as it appreciated Re0.10 or 0.04% against the US dollar. The local unit closed at 282.32 , against 282.42 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the US dollar was nursing losses on Monday while the euro and sterling held steady ahead of their respective central bank decisions this week, with focus squarely on the rate outlooks across major economies as the new year approaches. Currencies were largely rangebound in early Asia trade, as investors braced for a busy week which will also see the release of US inflation data and the closely watched nonfarm payrolls report. The yen was little changed after a key central bank survey showed on Monday that big Japanese manufacturers’ business sentiment hit a four-year high. The Japanese currency was 0.1% weaker at 155.94 per dollar. Sterling eased 0.17% to $1.3359 in early Asia trade on Monday, while the euro was down 0.09% at $1.1730. The Australian dollar eased 0.11% to $0.6647, while the New Zealand dollar was up 0.08% to $0.5807. A divided Federal Reserve cut interest rates by 25 basis points last week as it sought to shore up a weakening labour market. But Chair Jerome Powell signalled borrowing costs are unlikely to drop further in the near term as it awaits more economic clarity. Against a basket of currencies, the dollar was struggling to break away from a near two-month low hit last week and stood at 98.43. Oil prices , a key indicator of currency parity, rose on Monday, recouping part of last week’s 4% slide, as concerns over potential disruptions from escalating US-Venezuela tensions outweighed lingering oversupply worries and the effects of a potential Russia-Ukraine peace deal. Brent crude futures rose 25 cents, or 0.4%, to $61.37 a barrel at 0055 GMT, and US West Texas Intermediate crude was at $57.67 a barrel, up 23 cents, or 0.4%. This is an intra-day update