What do you believe is the single most important factor driving up the cost of living in Nigeria?

Bank notes of the Chinese yuan, Japanese yen and the U.S. dollar.

Japan's yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday's strong U.S. jobs data and an escalation in the Middle East conflict.

The yen fell marginally to hit 149.10, its weakest level since Aug. 16. But that came on top of a more than 4% decline last week, its biggest weekly percentage decline since early 2009.

The dollar's gains followed a U.S. jobs report that showed the biggest jump in jobs in six months in September, a drop in the unemployment rate and solid wage rises, all pointing to a resilient economy and forcing markets to reduce pricing for Federal Reserve rate cuts.

"With rate cuts still being the default position, and when married to upbeat earnings expectations and China going hard on liquidity and fiscal, the equity bull case and the U.S. dollar get a shot in the arm," said Chris Weston, head of research at Australian online broker Pepperstone.

"While geopolitical headlines and the possibility of an energy supply shock remain a continued threat to sentiment, those set long of risk haven't heard anything significantly market moving through the weekend and head into the new trading week feeling pretty good about the prospect of further upside."

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