The Australian dollar is slightly higher in quiet trade after the People's Bank of China (PBOC) failed to announce measures to stimulate the nation's slowing economy.
At 1700 AEST, the Australian currency was trading at 105.53 US cents, up from 105.23 cents on Friday.
Since 0700 AEST, the local unit traded between 105.40 US cents and 105.69 cents.
There was an expectation that the Chinese central bank, which doesn't announce a schedule of meetings, would lower its reserve requirement ratio (triple R) for commercial banks.
The move would have allowed Chinese commercial banks to lend more, acting as an economic stimulus.
Easy Forex currency dealer Tony Darvall said the PBOC's triple R cut announcement is yet to happen.
"They usually do it on the weekend or on the Friday, they aren't expected to do it in the next couple of days," he said.
"The market is still expecting something from China."
Mr Darvall said in an absence of any other market events the Australian dollar has moved higher and will continue to do so.
"Even around the world there isn't much data this week, so it's going to be one of those weeks where people are setting up for range trading," he said.
"The Aussie should be very well supported, a calm market actually supports the Aussie because it's high yielding."
At 1700 AEST, the Australian dollar was at 82.62 Japanese yen, up from Friday's close of 82.52 yen, and at 85.90 euro cents, up from 85.66 euro cents.
Meanwhile, Australian bond futures prices fell.
ANZ head of interest rate research Tony Morriss said there was nothing to guide bond markets on Friday night (AEST) and Monday morning, even from sharemarkets.
"We had a mixed session on Friday, European stock markets were down, but the US posted small gains," he said.
"We had such a big week last week with the RBA (Reserve Bank of Australia) interest rate decision and Statement on Monetary Policy, this week we only have the NAB business survey and official wages cost index."
At 1630 AEST on Monday, the September 10-year bond futures contract was trading at 96.820 (implying a yield of 3.180 per cent), down from 96.840 (3.160 per cent) on Friday.
The September three-year bond futures contract was at 97.310 (2.690 per cent), down from 97.320 (2.680 per cent).
