SINGAPORE - Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of 160 yen for the first time in decades.

Oil prices ticked down on expectations that higher-for-longer US interest rates would dampen demand, while news of a potential Gaza ceasefire eased fears of supply constraints.

The dollar touched a high of 160.245 yen - its strongest level in 34 years - in a sudden but brief surge during Asia hours. It was last 0.5 percent higher at 159.14 yen.

In the broader market, MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.56 percent, helped by Wall Street's positive lead on Friday owing to a rally in megacap growth stocks.

Wall Street’s main indexes closed higher on Friday,

The upbeat sentiment spilled over into the new week, with Nasdaq futures and S&P 500 futures each rising 0.2 percent.